Unsubsidized Loan (Formerly SLS)
Unsubsidized loans to dependent students provide a maximum of $2,000 per year for undergraduate study, with an aggregate loan limit of $8,000. Independent students can borrow $6,000 per year for the first two years of study and $7,000 per year for the third or subsequent years, with an aggregate loan limit of $31,000. Graduate students can borrow up to $20,500 per year with an aggregate loan limit of $138,500.
Loans made under the unsubsidized loan program are not eligible for interest subsidy. Students must therefore make this interest payment while in school or allow the interest to capitalize. Interest rates for federally guaranteed student loans are set annually. Please consult the Department of Education website for the current interest rate: https://studentaid.ed.gov/types/loans/interest-rates.