Financial Aid - Federal Loan Limits

The U.S. Department of Education sets borrowing limits for the Direct Lending (DL) programs, as indicated in the table below. Carroll has the right to deny any loan request based on such factors as unwillingness to repay, borrowing history and academic progression.

Visit The National Student Loan Database System for Students to view your previous borrowing history.


Annual and Aggregate Loan Maximums

 Grade Level  Base Amount
 eligibility determined by a
 Financial Aid Counselor)
 Grade Level 1
 (1 - 29 completed credits)
 $3,500  Dependent*: $2,000
 Independent: $6,000
 Grade Level 2 (30 or
 more completed credits)
 $4,500  Dependent*: $2,000
 Independent: $6,000


Aggregate Loan Limits

 Dependent Undergraduate**  $31,000 (Subsidized aggregate
 limit may not exceed $23,000)
 Independent Undergraduate**  $57,700 (Subsidized aggregate
 limit may not exceed $23,000)
 Graduate/Professional  $138,500 (Subsidized aggregate
 limit may not exceed $65,500)


*If you are a dependent students who has a current PLUS loan denial on file with our office, you may be eligible to borrow an additional $4000 in an unsubsidized loan.

**As an undergraduate student, the maximum loan amount you may borrow may need to be prorated in certain circumstances. For example, loans must be prorated if you, the borrower, are enrolled in an eligible program of study that is shorter than a full academic year, or when a you are enrolled in a program that is one academic year or more but you remain for a period of study that is shorter than a full academic year. A Financial Aid Counselor will notify you if your loan must be prorated.

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