<p>Can someone remind me what the limit is for a freshman in terms of borrowing sub, and unsub Staffords, Perkins, etc, for the first year?</p>
<p>After that it's just Parent Plus and/or private loans... is that correct?</p>
<p>Freshman Stafford for a dependent student is $5500 of which up to $3500 may be subsidized if there is need.</p>
<p>Perkins are completely different to Stafford. They have very limited funding. Some schools do not have any Perkins funds. Those that do set their own criteria for awarding them and their own maximum amounts depending on their funding.</p>
<p>Thank you, SCM. I’m working with a student who has an acceptance to an expensive school. She is trying deperately to go and has virtually no resources. It’s also a not a school that meets need or is particularly generous with aid. I’m going to meet with her next week, but her financial problems may be more concrete than just the pitfall of over-indebtedness – I don’t believe she can borrow enough to attend even if I can’t convince her that such a debt load it’s a bad, bad idea. There’s some relief in that, for me anyway.</p>