Your financial aid notice shows how much in Direct Subsidized or Unsubsidized Loans you may borrow. View your aid on Wolverine Access by selecting Financial Aid > Awards. You may also view the amount borrowed to date through all loan programs by selecting Loans > View Student Loan Summary.

The amount of Federal Direct Loans you may borrow by year in school and the total amount you may borrow are shown in the table below. These amounts are determined by the federal government.

U-M undergraduate students approaching graduation: If you are enrolled less than full-time during your final term, you may not be eligible to receive the full, annual maximum federal loan limit. Consult with an aid officer to discuss your situation.

Borrowing Limits for Direct Loans

  Year 1 Year 2 Year 3
Subsidized Base $3,500
for all undergraduates		 $4,500
for all undergraduates		 $5,500
for all undergraduates
  N/A
for graduate students		 N/A
for graduate students		 N/A
for graduate students
Additional Unsub Loan $2,000 ($5,500 total)
for dependent undergrads*		 $2,000 ($6,500 total)
for dependent undergrads*		 $2,000 ($7,500 total)
for dependent undergrads*
  $6,000 ($9,500 total)
for independent undergrads**		 $6,000 ($10,500 total)
for independent undergrads**		 $7,000 ($12,500 total)
for independent undergrads**
  $20,500
for graduate students		 $20,500
for graduate students		 $20,500
for graduate students

 

Subsidized Loan Debt Limit
$23,000 for all undergraduates
$65,500 (limit includes Direct Loans received as an undergraduate) for graduate students

 

Total Loan Debt Limit (Subsidized & Unsubsidized)
$31,000 (only $23,000 may be subsidized) for dependent undergrads*
$57,500 (only $23,000 may be subsidized) for independent undergrads
$138,500 ($65,500 may be subsidized; limit includes undergraduate Direct Loans) for graduate or professional students

* Except those whose parents are unable to obtain a PLUS Loan
** These limits also apply to dependent students whose parents are unable to obtain a PLUS Loan

Direct Subsidized Loan Time Limitation

Direct Loan subsidies are limited for first-time and new Federal Direct Subsidized Loan borrowers (effective July 1, 2013). Students whose attendance exceeds 150% of the published length of their program will be:

  • ineligible for additional Direct Subsidized Loans (though you may borrow a Direct Unsubsidized Loan) and
  • responsible for interest accrued on all loans

New borrowers are students with no outstanding federal loan principal balance when taking out a new loan (transferring between programs does not reset loan eligibility). Interest not paid will be capitalized, effectively increasing your loan principal upon repayment.