The annual maximum loan amount an undergraduate student may borrow must be prorated when the student is enrolled in a program that is one academic year or more in length, but is in a remaining period of study that is shorter than a full academic year. Consult with your Financial Aid Office if you have any questions.
Proration Loan Limit
Calculating annual loan limits-the annual limit for the student's grade level is multiplied by the following fraction to determine the prorated loan amount.
Subsidized and Unsubsidized must be calculated separately.
Student is enrolled in 6 credit hours and will graduate at the end of fall term with a Bachelor's degree:
6/24 X $5,500 = $1375 Subsidized : (Dependent and Independent Student)
6/24 X $2,000 = $500 Unsubsidized (Dependent Student Only)
6/24 X $7,000 = $1750 Unsubsidized (Independent Student Only)