If a student is enrolled in a program of less than 30 credits (such as an undergraduate certificate) or will graduate from an undergraduate degree program after attending only one semester of the academic year are required to have their loan pro-rated for that semester. This will result in an adjusted and lower borrowing limitations for the semester. 

Programs less than 30 credits will carry Freshmen level Federal Direct Student Loan annual limits. Students graduating will have loans pro-rated according to a federally mandated formula based on enrolled credits for the term in question, and annual loan limits. If the student's loan offer is subject to pro-ration, then the limit on the loan eligibility for that particular term is determined as follows:

The percent of credits enrolled multiplied by the annual maximum loan limits.

For example, an independent undergraduate student will graduate after attending only one term in the academic year and during that term is enrolled in 8 credits. In this example, the student is independent, so the annual loan limits are: subsidized $5,500.00, and unsubsidized: $7,000.00. The first step is to determine the percent of credits enrolled. This is completed by dividing the number of credits enrolled (in this example 8) by the total number of credits in an academic year (24): 8/24 = 0.33.

Now that the percentage is determined (0.33), this percentage is multiplied by the annual maximum loan limit(s):

0.33 (percent of credits enrolled) X $5,500.00 (annual subsidized limit)
= $1,833.00 maximum subsidized

0.33 (percent of credits enrolled) X $7,000.00 (annual unsubsidized limit)
= $2,333.00 maximum unsubsidized

Keep in mind that the above example is reflective of an independent student, and that dependent students have different annual loan limits: ($5,500.00 subsidized and $2,000.00 unsubsidized). Pro-ration calculations are done at the time we certify your loan, based on information you provide through the loan request process. This means that a student's award may change from the time of loan acceptance to certification. Students are always informed of the proration via e-mail once it is processed.

Pro-ration amounts by number of credits enrolled:

Independent Student Dependent Student
6 Credits:
Subsidized
Unsubsidized


$1,375 
$1,750

6 Credits:
Subsidized
Unsubsidized


$1,375 
$500

7 Credits:
Subsidized
Unsubsidized

$1,604 
$2,042
7 Credits:
Subsidized
Unsubsidized

$1,604 
$583
8 Credits:
Subsidized
Unsubsidized

$1,833 
$2,333
8 Credits:
Subsidized
Unsubsidized

$1,833 
$667
9 Credits:
Subsidized
Unsubsidized

$2,063 
$2,625
9 Credits:
Subsidized
Unsubsidized

$2,063 
$750
10 Credits:
Subsidized
Unsubsidized

$2,292 
$2,917
10 Credits:
Subsidized
Unsubsidized

$2,292 
$833
11 Credits:
Subsidized
Unsubsidized

$2,521 
$3,208
11 Credits:
Subsidized
Unsubsidized

$2,521 
$917
12 Credits:
Subsidized
Unsubsidized

$2,750 
$3,500
12 Credits:
Subsidized
Unsubsidized

$2,750 
$1,000
13 Credits:
Subsidized
Unsubsidized

$2,979
$3,792
13 Credits:
Subsidized
Unsubsidized

$2,979
$1,083
14 Credits:
Subsidized
Unsubsidized

$3,208 
$4,083
14 Credits:
Subsidized
Unsubsidized

$3,208
$1,167
15 Credits:
Subsidized
Unsubsidized

$3,438 
$4,375
15 Credits:
Subsidized
Unsubsidized

$3,438 
$1,250
16 Credits:
Subsidized
Unsubsidized

$3,667 
$4,667
16 Credits:
Subsidized
Unsubsidized

$3,667 
$1,333