FAFSA Student Loans
How filing the FAFSA gets you federal loans and grants, the 2026-27 Pell Grant and loan limits, and an estimator.
FAFSA student loans and Pell estimator (2026-27)
How FAFSA student loans work
Filing the FAFSA is how you get federal student aid: grants, work-study and Direct Loans. Your answers produce a Student Aid Index (SAI), and your school builds an aid package from it and its cost of attendance. Grants come first; then loans, which you must repay.
Pell Grant 2026-27
The maximum Pell Grant for 2026-27 is $7,395 and the minimum is $740 (Federal Student Aid). Roughly, a full-time student gets the maximum minus the SAI, but some families qualify for the maximum based on income and family size regardless of SAI, and part-time enrollment lowers the amount.
Direct Loan limits for undergraduates
- Dependent: $5,500, $6,500 and $7,500 a year (of which up to $3,500, $4,500 and $5,500 subsidized), $31,000 total.
- Independent: $9,500, $10,500 and $12,500 a year, $57,500 total.
2026-27 rates are 6.52% for undergraduates. See subsidized loan, unsubsidized loan (including the new graduate caps) and Parent PLUS loan.
Common questions
What is the maximum Pell Grant for 2026-27?
$7,395; the minimum is $740.
How much can a dependent freshman borrow?
$5,500 in Direct Loans, up to $3,500 subsidized.
Do I have to file the FAFSA to get federal student loans?
Yes.
Sources
- Federal Student Aid: 2026-27 Pell Grant maximum and minimum (GEN-26-01)
- Federal Student Aid: Subsidized and unsubsidized loans
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General information, not financial, tax or legal advice. Check important numbers with the official source before acting on them.