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Loan Amount Limits

  • Loan Borrowing Limits

    Annual Loan Limits

    SUNY Erie promotes responsible borrowing. We encourage students to only borrow what they need.  We want to do all we can to help students make informed choices that will allow them to fund their education.

    Borrowing limits are determined by your "year" in college and dependency status.  A "First Year" student has completed 23 or fewer degree credit hours.   A "Second Year" student has completed 24, or more, degree credit hours.

    The following borrowing limits are for one school year.

    Dependent* $5,500 $6,500
    Independent $9,500 $10,500
    * A dependent student whose parents are unable to qualify for a PLUS loan can borrow up to an additional $4000 annually.


    • The amounts given above are the maximum yearly amounts you can borrow in both subsidized and unsubsidized loans.
    • You cannot borrow more than your cost of attendance minus any other financial aid for which you are eligible.
    • This means that you may receive less than the annual maximum amounts.


    The US Department of Education will pay your student loan funds through Erie Community College.

    Loans will be disbursed in two equal disbursements.

    • Academic year loan will be disbursed once during the fall semester and once during the spring semester.
    • Single semester loans will have two equal disbursements during one semester.
    • The first disbursement for first year, first time borrowers will arrive 30 days after the start of the term.  The second disbursement occurs after the mid-point of the semester.

    Your loan money must first be applied to your school account to pay for tuition and fees, and other school charges. If loan money remains, Student Account Services at SUNY Erie will send you a refund.


    Repayment on the principle of the loan begins 6 months after you drop below 6 credit hours. Payment will be made to the US Department of Education or its designated servicer.

    There are many repayment plans through the Direct Loan program.  For more information on repayment of your student loans, use the repayment estimator at studentloans.gov. You will need your FSA ID and password to login.

    Please note:
    If you have both FFEL Stafford Loans AND you have Federal Direct Stafford Loans, you will be repaying two or more different loan servicers.

    To check all your Federal Stafford loans, visit the National Student Loan Database System (NSLDS).

    After you graduate or stop attending college you may apply to Consolidate your loans into a single loan.

    Payment Calculator

    Use the repayment estimator at studentloans.gov to estimate your future loan payments. 

    Helpful Websites

    National Student Loan Database System (NSLDS) - Had previous student loans? Forgot who your lender is? Need to determine your outstanding loan balance? Check out this web site for a complete history of your federal student loans.

    Student Loans 101 – The world of student loans can sometimes be difficult to navigate.  However, it doesn’t have be.  This website makes student loans easy to understand.

  • Need Help?

    Financial Aid - Visit Us

    City Campus
    Student Support Center - Room O102A
    45 Oak Street
    Buffalo, NY 14203
    M8 a.m. - 6 p.m.
    Tu-Th8 a.m. - 4 p.m.
    Fri8 a.m. - 2 p.m.
    North Campus
    Spring Student Center - Room S201
    6205 Main Street
    Williamsville, NY 14221
    M, W, Th, and F8 a.m. - 4 p.m.
    Tu8 a.m. - 6 p.m.
    South Campus
    Building 5 - Room 5206
    4041 Southwestern Blvd.
    Orchard Park, NY 14127
    M, Tu, Th, and F8 a.m. - 4 p.m.
    W8 a.m. - 6 p.m.
  • Helpful Websites

    • Federal Student Aid Direct Loan - Direct Loans are low-interest loans available to students and their parents to help cover the costs of education after high school.
    • National Student Loan Database - Had previous student loans? Forgot who your lender is? Need to determine your outstanding loan balance? Check out this web site for a complete history of your federal student loans.