How much can I borrow?

Depending on when you apply, your level of need, and the funding level available, you can borrow up to:

$4,000 for each year of undergraduate study (the total amount you can borrow as an undergraduate is $20,000).

$6,000 for each year of graduate or professional study (the total amount you can borrow as a graduate/professional student is $40,000, including any Federal Perkins Loans you borrowed as an undergraduate).