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How much can I borrow?

The below table shows what students are normally able to borrow:

Direct Loan Yearly Amounts

Year of course

Subsidised Loan

Unsubsidised Loan

Total Loan 

Dependent Undergraduate

 

 

 

1st Year

$3,500

$2,000

$5,500

2nd year

$4,500

$2,000

$6,500

3rd year

$5,500

$2,000

$7,500

Independent Undergraduate

 

 

 

1st year 

$3,500

$6,000

$9,500

2nd year

$4,500

$6,000

$10,500

3rd year

$5,500

$7,000

$12,500

Postgraduate – all years

 

$20,500

$20,500

 

Students can then take PLUS loans up to the amount of their Cost of Attendance (usually about $35,000 for an academic year).

 

Parent PLUS - the Parent PLUS loan is credit-based for Parents of dependant undergraduate students who wish to take out loans in their names to help with their children's education.

Direct PLUS - postgraduate students are able to take out a PLUS loan which is credit based.

 

 


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