i-60 12.2008
Federal Loan Interest Rates and Loan Limits
(Effective July 1, 2008 - June 30, 2009)
Base Amount
Additional Unsubsidized
All Students
Dependent Students
Dependent Students
whose parents cannot
borrow PLUS and
Independent Students
1st year Undergraduate
$3,500
$2,000
$6,000
2nd year Undergraduate
$4,500
$2,000
$6,000
3rd year and beyond Undergraduate
$5,500
$2,000
$7,000
Teacher certification
$5,500
n/a
$7,000
Preparatory Graduate/Professional
$5,500
n/a
$7,000
Graduate/Professional
$8,500
n/a
$12,000
Annual Stafford Loan Limits
Effective for the 2008-09 Award Year
www.edfund.org
Aggregate Stafford Loan Limits
Effective for the 2008-09 Award Year
Dependency Status
Subsidized
Maximum Subsidized
& Unsubsidized
Dependent Undergraduate
$23,000
$31,000
Independent Undergraduate
$23,000
$57,500
Graduate/Professional
(includes amount borrowed as an
undergraduate student)
$65,500
$138,500
(Note: Certain health professions students may qualify for higher annual and aggregate limits. For more information,
please refer to EdFund publication I-60.1, Federal Loan Limits for Health Profession Programs.)
Stafford
PLUS**
Fixed rate loans
7/1/08 - 6/30/09
Subsidized
Unsubsidized
8.5%
6.0%*
6.8%
Fixed rate loans
7/1/06 - 6/30/08
6.8%
6.8%
8.5%
Variable rate loans
7/1/98 - 6/30/06
In-School
Repayment
5.01%
3.61%
4.21%
(Yellow boxes reflect changes resulting from the Continued Access to Student Loans Act of 2008 {PL 110-227}
and College Cost Reduction and Access Act of 2007 {PL 110-84})
*Graduate student rate for Stafford subsidized loans remains 6.8%.
**FFEL PLUS loans