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COMMONWEALTH OF PENNSYLVANIA

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22 Pa. Code § 121.65. Federal Stafford Loan guaranty limits.

§ 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 Loanfor 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 yearProrated** $2,500
 1/3 academic yearProrated** $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.

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).

Source

   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).


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