Loan options for students studying at the University of Edinburgh and more information on Loan Limits There are three types of loan available to students through the Federal programme. These are the Direct Subsidized, Direct Unsubsidized and Direct PLUS loans. The amount that you are eligible to borrow in each academic year is assessed according to your grade level, whether you are a dependent or independent student and your financial need. The maximum you can borrow is the estimated Cost of Attendance. The sum of your Federal, any private loans and scholarships / bursaries cannot exceed the Cost of Attendance so you should think carefully about the loans your are applying for. The following Loan Types are offered:Federal Direct Subsidized LoanAvailable to undergraduate students with demonstrated financial need as determined by US Department of Education regulationsNo interest is charged whilst you are enrolled at University at least half-time, during the grace period (the first 6 months after you finish University) and during deferment periods (a postponement of loan payments).Graduates are not entitled to a Direct Subsidized Loans but may apply for up to $20,500 from the Direct Unsubsidized Loan (subject to approval by Financial Aid staff within the US and Canadian Loans team).For more information about this loan, the interest rates and origination fees please see the following: Subsidized and Unsubsidized LoanFederal Direct Unsubsidized LoanA Federal Direct Unsubsidized Loan is not based on financial needAvailable to both undergraduate and postgraduate studentsYou are not required to pay the interest on this loan whilst at University but we recommend that you do. You will be charged interest started at disbursement until it is paid in full. If the interest accumulates, it will be added to the principal amount of the loan and increase the amount to be repaid.For more information about this loan, the interest rates and origination fees please see the following: Subsidized and Unsubsidized LoanFederal Direct Parent PLUS LoanAvailable to parents of undergraduate students who are classed as dependent.Parents can borrow up to the total estimated Cost of Attendance as issued by the University of Edinburgh.Parent PLUS loans are the responsibility of the parent and not the student.Parent PLUS loan borrower must meet the same citizenship and residency criteria requirements as the student. The parent must not owe a refund on a federal student financial aid grant or be in default on a federal student loan.A credit check is conducted when parents begin the loan application process.Undergraduates whose parents do not qualify for a PLUS loan can borrow additional federal Direct Unsubsidized loan funds.For more information about this loan, the interest rates and origination fees please see the following: Federal Direct Parent PLUS Loan Information Federal Direct Graduate PLUS LoanAvailable to postgraduate students who started on programme prior to 01 July 2026.Graduate students may borrow up to the total estimated Cost of Attendance as issued by the University of Edinburgh.Graduate students must have applied for their annual loan maximum eligibility under the Federal Unsubsidized Direct Loan Program before applying for a Graduate / Professional PLUS Loan.Repayment begins on the date of the last disbursement of the loan and the first payment is due within 60 days after the date the loan is fully disbursed.A Graduate PLUS borrower may receive a deferment while he or she is enrolled on at least a half-time basis at an eligible school. Upon dropping to less than half-time enrolment status, the borrower is not entitled to a grace period on his or her PLUS loans.For more information about this loan, the interest rate and origination fees, please see the following webpage: Federal Direct Graduate PLUS Loan Loan Limits for Legacy Students The amount in Direct Loan funds that you are eligible to borrow each academic year is limited by your grade level; whether you are a dependent or an independent student; your financial need; and your cost of attendance. You cannot borrow more than your financial need or the cost of attendance. Annual Loan Amounts Dependent StudentsBase Amount (Subsidized or Unsubsidized)Additional Unsubsidized LoanTotal Annual Combined Maximum Amount of Subsidized & Unsubsidized LoansFirst-year undergraduate$3,500$2,000$5,500Second-year undergraduate$4,500$2,000$6,500Third-year and beyond undergraduate$5,500$2,000$7,500Independent Student (and Dependent Students whose Parents are Denied a PLUS loan)Base Amount (Subsidized or Unsubsidized)Additional Unsubsidized LoanTotal Annual Combined Maximum Amount of Subsidized & Unsubsidized LoansFirst-year undergraduate$3,500$6,000$9,500Second-year undergraduate$4,500$6,000$10,500Third-year and beyond undergraduate$5,500$7,000$12,500Postgraduate StudentsBase Amount (Subsidized or Unsubsidized)Additional Unsubsidized LoanTotal Annual Combined Maximum Amount of Subsidized & Unsubsidized LoansAny year$0$20,500$20,500Direct Loans Aggregate Loan LimitsAll StudentsSubsidized OnlyTotal Aggregate (Subsidized and Unsubsidized combined)Dependent undergraduates$23,000$31,000Independent undergraduates$23,000$57,500Postgraduate students$65,500$138,500Loan limits for non-legacy students can be found on our One Big Beautiful Bill webpage This article was published on 2024-07-29
