The aggregate loan limits are $23,000 for dependent undergraduates. The maximum loan limit for graduate and professional students is $65,500.
In addition to subsidized loans, independent students or dependent students whose parents do not qualify for a PLUS Loan, can borrow up to:
$6,625 - 1st year undergraduates (2625 subsidized + 4000 unsubsidized)
$7,500 - 2nd year undergraduates (3500 subsidized + 4000 unsubsidized)
$10,500 - 3rd and 4th year undergraduates (5500 subsidized + 5000 unsubsidized)
The aggregate loan limits are $46,000 for independent undergraduates (only $23,000 of this amount may be in subsidized loans).
The aggregate loan limits are $138,500 for graduate and professional students (only $65,500 of this amount may be in subsidized loans).
Now alternative loans are based off of creditworthiness. So if you've got good credit, you can borrow a bunch.
If the parent does not qualify for PLUS due to credit, the Stafford limits for the student are increased.
In the four year plus that the girl has been in school she has been able to purchase two new cars, pay rent in a nice apartment, go to school and not work.
When our eldest son was in years 5,6,and 7 at the university, the student loan money available to him was far more than was necessary. Thankfully he didn’t borrow more than he needed.
The girl in question had her grandmother co-sign for the loans. I’m sure that has a great deal to do with the outcome. Now an elderly woman has her farm at risk.