According to the College Councilthe average annual cost of a private four-year college is now $45,000 for tuition and fees. So if you really want to attend a private university, on average you’ll need to be willing to pay around $180,000 for your education.
And that’s if you don’t plan on attending graduate school. For example, consider the additional costs medical students face. According to the Association of American Medical Collegesthe average annual cost of public medical school in the state is an additional $44,158 for the 2026-2027 academic year.
How do you pay for all this? The simple answer may seem to be, “Well, I’ll just take out student loans.” » But contrary to what some might think, student loans are not just blank checks. There are limits to how much you can borrow, especially when it comes to federal student loans.
Federal student loan limits became even more restrictive for graduate and professional students starting July 1, 2026, with new borrowing limits and the elimination of Grad PLUS loans for new borrowers.
So the question many students want to answer is: “How much student loan can I get?” » We’ll provide you with the answers to how much you can borrow in this guide. Let’s take a look at the student loan limits you’ll face at each stage of your college career.
Federal or Private Student Loan Borrowing Strategy
Federal student loans have many built-in benefits that private student loans can’t match. For example, federal student loan borrowers can enroll in a Income-Driven Repayment Plan. They are also eligible for federal forgiveness programs like Public service loan forgiveness.
Another benefit of federal student loans is that you can usually take them out on your own without a cosigner, regardless of your creditworthiness. But one of the few drawbacks of federal student loans is that their student loan limits can be more restrictive than private student loans.
In most cases, you must first max out your federal student loans before moving on to private student loans. Below, we’ll look at student loan limits for undergraduate and graduate students.
Undergraduate Student Loan Limits
How many student loans can you get as an undergraduate? This will mainly depend on your answers to two questions: Are you a dependent or independent student? And what year of school are you in? Here’s how this information can affect your borrowing options.
Federal Student Loan Limits
There are two main types of federal student loans for undergraduate students: Direct Subsidized Loans and Direct Unsubsidized Loans. Both types carry an interest rate of 6.52% for the 2026-2027 academic year and are eligible for federal student loan benefits. But there are key differences:
- Subsidized direct loans: The government will pay your interest charges for you in certain circumstances. To be eligible, you will need to demonstrate your financial need.
- Direct Unsubsidized Loans: You will be responsible for all interest charges yourself, but you may qualify for this type of loan regardless of your financial needs.
Direct Subsidized and Direct Unsubsidized Loans also have different student loan limits. As you can see in the table below, the federal student loan limits on directly subsidized loans are much lower for each academic year. Aggregate loan limits are the total amount of federal student loans a borrower can take out per year. This combines subsidized and Andsubsidized student loans.
Annual Undergraduate Student Loan Limits
| Academic year | Undergraduate loan limit: Dependent students |
Undergraduate loan limit: Independent students |
|---|---|---|
| First of all | Subsidized: $3,500 Total: $5,500 |
Subsidized: $3,500 Total: $9,500 |
| Second | Subsidized: $4,500 Total: $6,500 |
Subsidized: $4,500 Total: $10,500 |
| Third+ | Subsidized: $5,500 Total: $7,500 |
Subsidized: $5,500 Total: $12,500 |
| Overall loan amount | Subsidized: $23,000 Total: $31,000 |
Subsidized: $23,000 Total: $57,500 |
For dependent students (most students under age 24), your four-year federal student loan limit ($31,000) is less than the average cost of one year at a private university. This is a recipe for a funding gap unless you can receive financial assistance from elsewhere.
Independent students have a little more wiggle room, with up to $57,500 in federal student loans available. But if you attend a private college or even an out-of-state public college, you can still easily max out your federal student loan limits.
Private Student Loan Limits
If you’ve reached the federal borrowing limit for your student loans, private student loans could help close the gap. In most cases, private student loans can be borrowed up to the cost of education, minus other financial aid received. And your “tuition costs” can include books, supplies, and living expenses in addition to tuition and fees.
Most private lenders will have overall loan limits. But these are usually very high, ranging from $150,000 to $500,000.
In most cases, you shouldn’t have to worry about the overall limit, especially if you maxed out your federal funding before switching to private loans.
Graduate Loan Limits
Graduate loans are a little different when it comes to student loans, especially when it comes to your federal student loan options. New borrowing limits took effect July 1, 2026, making it especially important to understand the amount of federal aid available for graduate and professional programs. Here’s what you need to know.
Stafford Student Loan Limits for Higher Education
Direct Subsidized Loans are not available to graduate students, but you can still take out Direct Unsubsidized Loans of up to $20,500 per year.
As of July 1, 2026, graduate students are subject to an aggregate borrowing limit of $100,000 for federal graduate loans. Professional students (e.g. medical and dental) can withdraw up to $50,000 per year and $200,000 in total. These limits generally exclude federal loans borrowed for undergraduate education.
That said, a new federal lifetime cap for students of $257,500 also applies to undergraduate, graduate, and professional education (even if they have already been repaid, forgiven, or otherwise released).
However, students who were already enrolled in their program and received a Direct Loan before July 1, 2026 may benefit from a temporary exception that allows them to continue borrowing under the previous rules for up to three years or for the remaining duration of their program (whichever comes first).
Grad PLUS Loans No Longer Available to New Borrowers
As of July 1, 2026, Grad PLUS loans are no longer available to new graduate and professional student borrowers. However, some existing students can continue to borrow under the temporary exception to the new rules.
For eligible borrowers, Grad PLUS loans allow students to borrow up to the cost of their education, minus other financial aid. However, Grad PLUS loans are more expensive, with higher interest rates and additional disbursement fees. Additionally, if you have an adverse credit history, you may not be able to get a Grad PLUS loan without a cosigner.
Related: Should professional students avoid Grad PLUS loans in 2026?
Private Loan Limits for Graduate Students
Due to the elimination of Grad PLUS loans for first-time borrowers and stricter federal borrowing limits, private student loans may be an attractive alternative for graduate students who have maxed out their Direct Unsubsidized Loans.
As with private undergraduate student loans, you will generally be able to borrow up to the cost of your education each year.
Some lenders may also have higher lifetime loan limits for graduate students than for undergraduate students. And you may qualify for even higher overall limits if you’re pursuing a degree known to be expensive, like medical, law, or MBA programs.
Related: Grad PLUS Elimination Guide: How to Finance Graduate School in 2026
Other ways to pay for college
In this guide, we focused on the question: “How much student loan can I get?” But it might be better to ask yourself, “How can I minimize my student debt?” »
Before rushing to take out a student loan, first look at all of your “free money” – money you don’t have to pay back – options. Make sure to complete your free application for federal student aid to see if you qualify for federal aid or grants.
Second, use sites like Bourses.com, Fast web and the University Council (Great Future) to help find and apply for scholarships. And finally, find a part-time job opportunity that allows you to fit around your school schedule to help reduce student debt.
If you’re considering attending a graduate school or professional program that could land you in six-figure student debt, you may want to talk to one of our student loan counselors first. Book a pre-debt consultation today.
