Declining pupils to depart university having too higher a financial obligation load, the us government keeps put both yearly and you may aggregate loan constraints to own Stafford funds. Annual loan constraints connect with maximum prominent number that can feel lent and any costs that the borrower must shell out. age., unpaid dominating) you to student, graduate, and you will professional college students will get accrue.
Over the years, Congress has been reticent to increase Stafford loan constraints. The higher Training Amendments from 1992 increased brand new yearly Stafford financing restrictions, beginning in the brand new 1993-1994 informative seasons, getting sophomores, juniors, seniors and you will graduate people, also expands regarding aggregate limitations. Continue reading