Year In School | Dependent Students* | Independent Students** |
---|---|---|

Lifetime limit | $31,000—no more than $23,000 can be subsidized |
$57,000 for undergraduates—no more than $23,000 can be subsidized $138,500 for graduate and professional students—no more than $65,500 can be subsidized |

## What is the maximum federal student loan amount for lifetime?

The maximum amount that independent students may borrow is **$57,500**, with the same upper limit ($23,000) on subsidized loans. Graduate students, who are always considered independent, can borrow the most – $138,500, with not more than $65,500 taken in the form of subsidized loans.

## Do student loans have a term limit?

**There is no time limit on how long a** borrower may receive Direct Unsubsidized Loans or Direct PLUS Loans. However, annual and aggregate limits for Direct Unsubsidized Loans do apply.

## What is the lifetime cap on financial aid?

Yes. There is a maximum amount of Federal Pell Grant funds you can receive over your lifetime. You can receive the Pell Grant for no more than 12 terms or the equivalent (**roughly six years**). This is called the Federal Pell Grant Lifetime Eligibility Used (LEU).

## Can you max out your financial aid?

But you can only borrow so much, since the federal government has a **maximum student loan amount of $31,000 for dependent undergraduate students** and $138,500 for graduate students. Here’s what to know about federal student aid limits and what to do if you hit that ceiling.

## What is the average student loan debt in 2020?

The average student borrows over $30,000 to pursue a bachelor’s degree. A total of 45.3 million borrowers have student loan debt; 95% of them have federal loan debt.

…

Average Student Loan Debt by Year.

Year | Undergraduate Only | All Student Debt |
---|---|---|

Year 2020 | Undergraduate Only $36,635 |
All Student Debt $36,510 |

## Do federal student loans go away after 7 years?

**Student loans don’t go away after 7 years**. There is no program for loan forgiveness or loan cancellation after 7 years. However, if it’s been more than 7.5 years since you made a payment on your student loan debt and you default, the debt and the missed payments can be removed from your credit report.

## Does private student loan debt go away after 7 years?

Do private student loans go away after seven years? **Private student loans don’t go away unless you pay them off**, but in most cases, they’ll fall off your credit report after seven years.

## Is there a time limit on paying back student loans?

Under the graduated repayment plan, borrowers have **up to 30 years** to repay their federal student loans, depending on the amount borrowed. Monthly payments will start just above interest-only payments and increase every two years.

## What is the 150 rule for financial aid?

Federal regulations require **all financial aid students to complete their degree within 150% of the credits required for their program of study**. A student will become ineligible for financial aid upon exceeding the 150% maximum timeframe and may appeal for reinstatement due to an extenuating circumstance.

## What is the lifetime loan limit?

Federal Student Loan Lifetime Limits

Year In School | Dependent Students* | Independent Students** |
---|---|---|

Lifetime limit | $31,000—no more than $23,000 can be subsidized |
$57,000 for undergraduates—no more than $23,000 can be subsidized $138,500 for graduate and professional students—no more than $65,500 can be subsidized |

## What is the income limit for FAFSA 2020?

Currently, the FAFSA protects dependent student **income up to $6,660**. For parents, the allowance depends on the number of people in the household and the number of students in college. For 2019-2020, the income protection allowance for a married couple with two children in college is $25,400.