How Much Can I Take Out in Grad School Loans?

The amount of money you can get depends on the type of loan you take out. Direct unsubsidized federal loans have a limit of $20,500 per year and $138,500 overall for grad students. Alternatively, grad direct PLUS federal loans don’t have this limit, and students may borrow the cost of school attendance minus other financial aid. With private loans, you’ll need to check loan requirements with the lenders.

Are Grad School Loans Different Than Undergrad Loans?

Graduate student loans typically have higher borrowing limits and interest rates. There are no federal subsidized grad school loans like there are for undergrad loans. Additionally, some grad students may get better rates for private student loans than undergrad students if they have a good credit history and income, which is more likely for those with an undergrad degree.

What Disqualifies You from Grad School Loans?

Several factors may influence whether you qualify for grad school loans. Poor credit history, insufficient income, criminal history, previous loan defaults, ineligible programs of study, and ineligible status may sometimes disqualify you. But it depends on the type of graduate student loan (federal or private) and the lender’s unique requirements.

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