FSA loan eligibility varies by grade level and dependency status.
Grade level is determined by the number of credits applied to your primary program. For new students, grade level is determined by applied transfer credits. For continuing students, grade level is determined by the total number of credits applied to your primary program at the start of the academic year.
Dependency status is determined by a variety of factors. A “yes” answer to any of the dependency questions on the FAFSA will classify you as independent; a “no” answer to all of the dependency questions on the FAFSA will classify you as dependent.
There are aggregate eligibility limits to the amount of FSA loans you may borrow for undergraduate and graduate study as well.
As of July 1, 2013, first-time borrowers are only eligible to borrow Direct Subsidized Loans for up to 150 percent of the published length of the program in which they’re enrolled.
This limit does not apply to Direct Unsubsidized Loans or Direct PLUS Loans.