Federal Stafford Loan Summer Stafford Loan Stafford Loan Entrance Counseling Students who file a Summer Aid application and meet Stafford Eligibility Requirements can borrow Stafford loan during the Summer Session. If you are borrowing a Stafford loan for the first time at UAlbany this summer, be sure to complete the Stafford Entrance Counseling Session. Stafford Entrance Counseling Session must be completed before your loan payment can be processed. How Much Can I Borrow? At UAlbany, the summer term starts the academic year.  Stafford eligibility is spread across the summer, fall and spring terms.  Using Stafford in the summer will reduce the amount of Stafford available for the fall and spring terms. For example: If your Stafford Loan annual limit is $5,500 and you borrow $2,000 for the summer session, your remaining fall/spring eligibility is $3,500. $5,500 Annual Loan Limit Summer Fall Spring $2,000 $1,750 $1,750 If your Stafford Loan annual limit is $3,500 and you borrow $2,000 for the summer session, your remaining fall/spring eligibility is $1,500. $3,500 Annual Loan Limit Summer Fall Spring $2,000 $750 $750 Annual Stafford Limits You should review the annual Stafford Loan limits if you are considering borrowing a Stafford loan for summer.  As of July 1, 2007, the Annual Stafford Limits are as follows: Dependent Undergraduate Student Credits Stafford Eligibility                        Freshman   0 - 23 $3,500   Sophomore 24 - 55 $4,500   Junior 56 - 87 $5,500   Senior 88 +    $5,500     Independent Undergraduate Student Credits Stafford Eligibility Additional Unsub Eligibility Freshman   0 - 23 $3,500 $4,000 Sophomore 24 - 55 $4,500 $4,000 Junior 56 - 87 $5,500 $5,000 Senior 88 +    $5,500 $5,000   Graduate Student   Subsidized Unsubsidized     $8,500 $12,000