Federal student loan calculator
Plug in your situation. Results update automatically; press recalculate to confirm and re-anchor.
Most undergrads under 24 are dependent unless married, a veteran, in foster care, supporting a dependent, or with documented legal independence.
Tuition, room, board, books, fees. Average 2025-2026 cost: $30K in-state public, $48K out-of-state public, $62K private nonprofit. Use your school's published figure.
Pell Grant, state grants, school merit aid, outside scholarships. Average grant aid for full-time freshmen is ~$10K. Defaults to $8K; adjust if you've received a financial aid offer.
Your federal Direct Loan limits (2026-2027)
Cost gap analysis
Options to fill the gap: Parent PLUS Loans (credit-checked, capped at $20,000/year starting July 2026), private student loans (rate depends on credit and cosigner), school payment plans, or appealing for more institutional aid. Federal aid is almost always cheapest, so exhaust it first.
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The calculator gives you the federal limits and the gap. The harder question is which schools to apply to so the gap is smallest, how to negotiate aid, and which scholarships fit your profile. Our partner Your Dream School (HEC Paris & UCL alumni) has helped hundreds of families work through exactly that. Free 30-minute consultation, no obligation.
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Frequently asked questions
How are federal student loan limits set?
The U.S. Department of Education sets annual and aggregate limits based on your year in school, dependency status, and degree level. The limits are codified in the Higher Education Act and updated rarely. The 2026-2027 figures used here match the current statutory limits, with the changes effective July 1, 2026.
What's the difference between Subsidized and Unsubsidized?
Direct Subsidized loans are need-based, and the federal government pays the interest while you're in school at least half-time and during deferment. Direct Unsubsidized loans are open to all undergraduates regardless of income, but interest accrues from the day the loan is disbursed. Both carry the same fixed interest rate set by Congress each year.
What's changing for graduate students in July 2026?
Graduate PLUS Loans are eliminated for new borrowers as of July 1, 2026. Graduate students are limited to $20,500 per year in Direct Unsubsidized loans, with a $100,000 aggregate cap. Professional students (medical, dental, law, pharmacy) get a higher annual limit of $50,000 with a $200,000 aggregate cap. Students already in a credentialed program who borrowed federal loans before July 1, 2026 can continue under the old rules for up to 3 more years.
If federal loans don't cover the cost, what comes next?
The standard ladder: federal Direct Loans first, then Parent PLUS Loans (for parents of dependent undergraduates, credit-checked, capped at $20,000/year starting July 2026), then private student loans. Private loans price on credit and usually require a cosigner for undergraduates. Comparing rates across multiple private lenders matters because the spread between cheapest and most expensive can run 4-6 percentage points.
Why does dependency status affect federal loan limits?
Independent undergraduates can borrow $4,000 to $7,000 more per year in federal Direct Unsubsidized loans than dependents. The federal definition of independent is narrow: 24+ years old, married, a veteran, in foster care, supporting a dependent, or with documented legal independence. Most undergraduates under 24 are dependent regardless of where they live or whether their parents help pay.
How accurate is this calculator?
The federal Direct Loan limits returned here are exact for 2026-2027 — they don't depend on your specific income or assets. The "remaining gap" depends on the cost and grant figures you enter, so the gap accuracy follows your input accuracy. For the actual maximum aid you qualify for, file the FAFSA. Your school will return a financial aid offer letter showing exactly what you're eligible for, including any institutional grants or work-study.
What is the new federal student loan lifetime borrowing cap?
Effective July 1, 2026, federal student loans carry a $257,500 aggregate lifetime cap across all federal student loan types combined. The previous undergraduate aggregate caps remain unchanged at $31,000 (dependent) or $57,500 (independent). The new lifetime cap matters most for borrowers stacking undergraduate, graduate, and professional school federal loans.
Federal loan limit data from the U.S. Department of Education 2025-2026 FSA Handbook with July 2026 statutory changes applied. Calculator built by The College Monk. Updated May 2026.