New Maximum Annual Loan Amounts for Direct Subsidized and Direct Unsubsidized Loan
DIRECT SUBSIDIZED AND UNSUBSIDIZED LOANS MAXIMUM ANNUAL LOAN AMOUNTS AND INTEREST RATES www.studentaid.gov 2022-2023 www.uvi.edu DEPENDENT STUDENT Borrower’s Academic Level Dependent Undergraduate Student Base Amount Additional Unsubsidized Amount Subsidized Loan Limits Freshman $3,500.00 / $3,464.00 $2,000.00 / $1,980.00 No more than $3,500 of this amount may be in subsidized loans Sophomore $4,500.00 / $4,452.00 $2,000.00 / $1,980.00 No more than $4,500 of this amount may be in subsidized loans Junior or Senior $5,500.00 / $5,442.00 $2,000.00 / $1,980.00 No more than $5,500 of this amount may be in subsidized loans INDEPENDENT STUDENT Borrower’s Academic Level Independent Undergraduate Student Base Amount Additional Unsubsidized Amount Subsidized Loan Limits Freshman $3,500.00 / $3,464.00 $6,000.00 / $5,936.00 No more than $3,500 of this amount may be in subsidized loans Sophomore $4,500.00 / $4,452.00 $6,000.00 / $5,936.00 No more than $4,500 of this amount may be in subsidized loans Junior or Senior $5,500.00 / $5,442.00 $7,000.00 / $6,926.00 No more than $5,500 of this amount ma …
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DIRECT SUBSIDIZED AND UNSUBSIDIZED LOANS MAXIMUM ANNUAL LOAN AMOUNTS AND INTEREST RATES www.studentaid.gov 2022-2023 www.uvi.edu DEPENDENT STUDENT Borrower’s Academic Level Dependent Undergraduate Student Base Amount Additional Unsubsidized Amount Subsidized Loan Limits Freshman $3,500.00 / $3,464.00 $2,000.00 / $1,980.00 No more than $3,500 of this amount may be in subsidized loans Sophomore $4,500.00 / $4,452.00 $2,000.00 / $1,980.00 No more than $4,500 of this amount may be in subsidized loans Junior or Senior $5,500.00 / $5,442.00 $2,000.00 / $1,980.00 No more than $5,500 of this amount may be in subsidized loans INDEPENDENT STUDENT Borrower’s Academic Level Independent Undergraduate Student Base Amount Additional Unsubsidized Amount Subsidized Loan Limits Freshman $3,500.00 / $3,464.00 $6,000.00 / $5,936.00 No more than $3,500 of this amount may be in subsidized loans Sophomore $4,500.00 / $4,452.00 $6,000.00 / $5,936.00 No more than $4,500 of this amount may be in subsidized loans Junior or Senior $5,500.00 / $5,442.00 $7,000.00 / $6,926.00 No more than $5,500 of this amount may be in subsidized loans GRADUATE STUDENT Borrower’s Academic Level Graduate Student Unsubsidized Amount Graduate or Professional Student $20,500.00 / $20,282.00 These are the maximum amounts that you can borrow for a full academic year. For periods of study that are shorter than an academic year, the maximum amounts you can borrow may be less. Your school’s financial aid office will determine the specific amounts that you are eligible to borrow. When you apply for federal student aid, your answers to certain questions will determine whether you are considered dependent or independent. See the Student Guide at www.studentaid.gov or your school’s financial aid administrator for more information. All graduate/professional students are considered independent. FIXED INTEREST RATES FOR JULY 1, 2022 – JUNE 30, 2023 (Subsidized, Unsubsidized and *PLUS Loans) Loan Type Grade Level Fixed Rates for Loans Disbursed after July 1, 2022 (7/1/2022 to 6/30/2023) Subsidized Loans Undergraduate 3.734% Unsubsidized Loans Undergraduate 3.734% Graduate 5.284% *PLUS Loans All 6.284% * Federal PLUS loans are available to parents of dependent undergraduate students and independent graduate students. See the Student Guide at www.studentaid.gov or your school’s financial aid administrator for more information.