Policy Frequently Asked Question: Loan-Amount Eligibility for a Single Semester

A borrower attended one university for the fall semester, and then transferred to a second university for the spring semester. She did not receive a Stafford loan at the first university. Is this borrower eligible for the full annual loan amount of $3,500 at her current grade level for attendance at the second school for the spring semester only?

Yes, because the student did not use any of the loan funds for which she was eligible for the first semester, she may obtain the full annual loan limit for the second semester, as long as the cost of attendance supports the need for that amount.