Loan amounts | University of Oxford
Math Bridge
The Mathematical Bridge over the lake at Worcester College
(Image Credit: May Chan / Graduate Photography Competition)

Loan amounts

US student loans can usually cover all your study-related costs. 

You will need to complete a Cost of Attendance (COA) worksheet to calculate the loan amount to which you are entitled. The worksheet for federal loans is available on the How to apply page and the worksheet for private loans is available on the Private loans page.

Loan amounts vary depending on whether you are a graduate or an undergraduate:

Graduate students

 

Direct Unsubsidised loan (federal)

Direct Grad PLUS loan (federal)  

Private loan

Maximum amount per year 

$20,500Total amount remaining after all other aid/loans have been deducted from COA.Total amount remaining after all other aid/loans have been deducted from COA.

Aggregate loan limit (how much you can borrow over your lifetime)

$138,500 (not more than $65,500 of this may be previous Direct Subsidised loans).

No limit.

Depends on lender.

Origination and default fee 

1.068% for loans first disbursed on or after 1 October 2015 and before 1 October 2016. 

1.069% for loans first disbursed on or after 1 October 2016 and before 1 October 2017.

4.272% for loans first disbursed on or after 1 October 2015 and before 1 October 2016. 

4.276% for loans first disbursed on or after 1 October 2016 and before 1 October 2017.

Depends on lender.

Interest rate 

5.84% for loans first disbursed on or after 1 July 2015 and prior to 1 July 2016.

5.31% for loans first disbursed on or after 1 July 2016 and prior to 1 July 2017.

6.84% for loans first disbursed on or after 1 July 2015 and prior to 1 July 2016.

6.31% for loans first disbursed on or after 1 July 2016 and prior to 1 July 2017.

Variable depending on lender and credit rating. Typically higher than federal loan rates.

Undergraduate students

 

Direct Subsidised loan (federal)

Direct Unsubsidised loan (federal)  

Parent PLUS loan (federal)

Private loan

Maximum amount per year

Year 1
$3,500 DEP
$3,500 IND

Year 2
$4,500 DEP
$4,500 IND

Year 3 and up
$5,500 DEP
$5,500 IND

Year 1
$2,000 DEP
$6,000 IND

Year 2
$2,000 DEP
$6,000 IND

Year 3 and up
$2,000 DEP 
$7,000 IND

For dependent undergraduate students only. Total amount remaining after all other aid/loans have been deducted from COA Total amount remaining after all other aid/loans have been deducted from COA.

Aggregate loan limit (how much you can borrow over your lifetime)

$23,000 DEP
$23,000 IND

$31,000 DEP (Direct Subsidised and Direct Unsubsidised combined)
$57,500 IND (Direct Subsidised and Direct Unsubsidised combined).

 None.Depends on lender.

Origination and default fee

1.068% for loans first disbursed on or after 1 October 2015 and before 1 October 2016. 

1.069% for loans first disbursed on or after 1 October 2016 and before 1 October 2017.

1.068% for loans first disbursed on or after 1 October 2015 and before 1 October 2016. 

1.069% for loans first disbursed on or after 1 October 2016 and before 1 October 2017.

4.272% for loans first disbursed on or after 1 October 2015 and before 1 October 2016. 

4.276% for loans first disbursed on or after 1 October 2016 and before 1 October 2017.

Depends on lender.

Interest rate

4.29% for loans first disbursed on or after 1 July 2015 and prior to 1 July 2016.

3.76% for loans first disbursed on or after 1 July 2016 and prior to 1 July 2017.

4.29% for loans first disbursed on or after 1 July 2015 and prior to 1 July 2016.

3.76% for loans first disbursed on or after 1 July 2016 and prior to 1 July 2017.

6.84% for loans first disbursed on or after 1 July 2015 and prior to 1 July 2016.

6.31% for loans first disbursed on or after 1 July 2016 and prior to 1 July 2017.

Variable depending on lender and credit rating. Typically higher than federal loan rates.

DEP = dependent undergraduate
IND = independent undergraduate

Origination fees, default fees and interest rates are subject to change. For the latest information on interest rates and fees, please see the Federal Student Aid website.