Section 121.65. Federal Stafford Loan guaranty limits

The Agency will guarantee loans to the maximum amounts specified in the following table:

		Additional Unsubsidized
	Subsidized/	Eligibility
	Unsubsidized Loan	for Independent Students*
Annual Loan Limits:
1st Year Undergraduate:
Full academic year	$2,625	$4,000
2/3 academic year	$1,750	$2,500
1/3 academic year	$ 875	$1,500
2nd Year Undergraduate:
Full academic year	$3,500	$4,000
2/3 academic year	Prorated**	$2,500
1/3 academic year	Prorated**	$1,500
3rd Year, 4th Year or 5th Year Undergraduate:
Full academic year	$5,500	$5,000
Less than full academic year	Prorated**	Prorated**
Graduate/Professional Student	$8,500	$10,000
Aggregate Limits:
Undergraduate	$46,000
Graduate/Professional	$138,500 (includes borrowings at the undergraduate level)

* Or dependent students whose parents cannot borrow a Federal PLUS loan. The amount an independent student or eligible dependent student can borrow under the unsubsidized Federal Stafford Loan Program during an academic year is: (a) the amount indicated in the first column minus the subsidized loan amount for which the student is eligible, plus (b) the amount indicated in the second column.

**Straight proration applies if the final portion of the program of study is less than a full academic year. The prorated loan amount must bear the same ratio to the full-academic year loan amount as the remainder of the program bears to 1 academic year.

The provisions of this § 121.65 adopted February 27, 1969; amended February 16, 1973, effective February 17, 1973, 3 Pa.B. 325; amended July 12, 1974, effective July 13, 1974, 4 Pa.B. 1407; amended November 19, 1976, effective November 20, 1976, 6 Pa.B. 2907; amended October 14, 1977, effective October 15, 1977, 7 Pa.B. 3081; amended November 10, 1978, effective November 11, 1978, 8 Pa.B. 3084; amended July 3, 1980, effective July 5, 1980, 10 Pa.B. 2874; amended September 4, 1981, effective September 5, 1981, 11 Pa.B. 3045; amended March 26, 1982, effective March 27, 1982, 12 Pa.B. 1043; amended September 21, 1984, effective September 22, 1984, 14 Pa.B. 3426; amended October 16, 1987, effective October 17, 1987, 17 Pa.B. 4120; amended July 12, 1996, effective July 13, 1996, 26 Pa.B. 3321. Immediately preceding text appears at serial pages (161833) to (161834).

Notation

Authority

The provisions of this § 121.65 amended under section 4 of the act of August 7, 1963 (P. L. 549, No. 290) (24 P. S. § 5104); section 1 of the act of January 25, 1966 (P. L. 1546, No. 541) (24 P. S. § 5151); sections 3 and 4 of the act of July 12, 1981 (P. L. 264, No. 89) (24 P. S. § § 5102.1 and 5104(1.2)); the act of July 18, 1974 (P. L. 483, No. 174) (24 P. S. § § 5181—5189); the act of July 1, 1988 (P. L. 1259, No. 155) (24 P. S. § § 5191—5197); and the act of June 26, 1992 (P. L. 322, No. 64) (24 P. S. § § 5198.1—5198.7).