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Undergraduate annual borrowing ranges from $5,500 to $12,500 (less Direct Subsidized Loan eligibility) depending on year in school and dependency status.

Graduate student annual borrowing maximum is $20,500.

Teacher Preparation Students or Endorsement Students who do not choose the M.S.

Students have to pay back financial aid if it is in the form of a loan, but they do not have to pay back grants, scholarships or money awarded through a work-study program. Students eligible for grants or scholarships should exhaust those options before taking out any loans, experts say.

For Federal Student Loans, you generally don't need a specific credit score, as eligibility is based on financial need via the FAFSA; for Private Student Loans, scores typically need to be in the mid-600s (e.g., 640+) for the borrower or a strong 670+ for a co-signer, though some lenders have higher or lower requirements, or even alternative options.

There is no set income limit for eligibility to qualify for financial aid through. You'll need to fill out the FAFSA every year to see what you qualify for at your college. It's important to make sure you fill out the FAFSA as quickly as possible once it opens for the following school year

Yes, some financial aid must be paid back (like loans), while others are "gift aid" (like grants and scholarships) that generally don't, unless you withdraw from school early or don't meet program conditions, which can trigger repayment rules for all aid types. Federal student loans always require repayment with interest, but grants and scholarships are yours to keep if you stay enrolled and meet eligibility.

To qualify for a student loan you'll need Your latest exam results. A statement of tuition fees, textbooks, equipment and accommodation. Proof of registration at an institution that is approved by the South African Qualifications Authority.

It depends on what costs are already covered. On average, college students spend $3,016 per month on living expenses, including housing, food, and other personal costs. If housing is already covered, $500 may be enough to cover food (off a meal plan), but you may be limited in how often you can eat out.

How Much Aid Are Students Getting? $275.1 billion: The total amount of aid that undergraduate and graduate students received in 2024-25 from all grants, federal loans, tax credits, and federal work-study. Average aid per full-time equivalent (FTE) student in 2024-25 was: $16,810 per undergraduate student.

You can be disqualified from FAFSA for failing to meet basic requirements like citizenship/eligible noncitizen status, having a high school diploma/GED, registering for Selective Service (if male 18-25), or for actions like defaulting on past federal loans, being incarcerated, or having certain drug convictions; also, not maintaining Satisfactory Academic Progress (SAP) or failing to submit the FAFSA annually can stop aid, but high income usually only reduces aid, not disqualifies you.