Nearing Lifetime Student Loan Limits

You are nearing the lifetime limits for the amount of federal student loans that you can borrow.  While Wichita State may be able to offer you student loans for this academic year, your current and future loans may be limited so that you do not exceed the total loan limits set by the federal government.

What are the loan limits?

This table describes the maximum aggregate loan limits according to student type for Federal Direct Loans.
Dependent Undergraduate Independent Undergraduate Graduate Student
$31,000 $57,500 $138,500
A maximum of $23,000 of this can be subsidized A maximum of $23,000 of this can be subsidized The graduate student loan limit also includes any unpaid Direct Loans received for undergraduate study.

How to track the amount of loans you've borrowed:

To track your loans, including the amounts borrowed, the schools where you borrowed the loans, and the loan servicer(s) your loans are assigned to, visit Federal Student Aid at studentaid.gov. This site is updated regularly with your loan history as they are reported.

Looking for Possible Additional Funds:

If you have reached the limits for federal student loans, you might consider:

  • Parent PLUS loan: a loan a parent takes out for a dependent undergraduate student
  • Graduate PLUS loan: additional federal loan based on credit for graduate students
  • Alternative loan: this type of loan is available from private lenders (based on credit)
  • Payment plan: this plan allows you to pay your tuition and fees throughout the semester
  • Scholarships: review various scholarship opportunities from reputable organizations
  • Working and going to school part-time to pay as you go

Please think carefully before going further in debt unless you have a clear and achievable goal that will allow you to repay what you owe.  Use the Loan Simulator to estimate your payments.

Resources for Planning:

  • Your academic advisor
    • Clarify your degree plan
    • Know how much longer you will need to pay for your education
  • Financial aid advisor
    • Discuss how to make your financial aid last until you graduate
    • Discuss other possible sources of aid
  • Shocker Financial Wellness
    • Get help with a budget to make it through finishing your degree
  • The Office of Student Success
    • Get help with skills needed for academic success to complete your degree quickly
  • Shocker Career Accelerator
    • Find a campus job on Handshake
    • Research careers
      • Make sure you have a solid plan once you graduate
      • Get an idea of how much you might earn
    • Set up applied learning experiences, internships, or cooperative education
      • Gain experience to add to your resume
    • Get help with job search skills like resume writing and interviewing
    • See what you might be able to do with the education you have so far
  • Counseling and Psychological Services
    • Get help dealing with the stress of nearing the end of federal loan funding for your degree