How Much Can I Borrow at Avondale College?

Your eligibility for aid at Avondale College will be assessed on the information that you have provided on your Avondale College Application for Financial Aid.

The US Government specifies the maximum amounts a student may borrow under the Direct Loan program.

Maximum Annual Amounts for Direct Loans (in US Dollars):


Dependent Undergraduate Students Subsidized (US government pays interest while student is in university and 6 months after graduation/withdrawal Subsidized & Unsubsidized Combined
1st Year $3,500 $5,500
2nd Year $4,500 $6,500
3rd Year and Up $5,500 $7,500

Total lifetime borrowing limit: $31,500
Independent Undergraduate Students Subsidized (US government pays interest while student is in university and 6 months after graduation/withdrawal Subsidized & Unsubsidized Combined
1st Year $3,500 $9,500
2nd Year $4,500 $10,500
3rd Year and Up $5,500 $12,500

Total lifetime borrowing limit: $57,500
Graduate Students Subsidized (US government pays interest while student is in university and 6 months after graduation/withdrawal Subsidized & Unsubsidized Combined
$8,500 $20,500

Total lifetime borrowing limit: $138,500

Note: These amounts that you may be awarded could be lower, depending on the eligibility determined by the financial aid office. Students who receive unsubsidized loans may pay the interest while they are in university with principal deferred until after they cease to be enrolled at least half time or they can choose to have both the interest and principle deferred until after they cease to be enrolled at least half time.

Interest Rates and Origination Fees


Loan Type Subsidized Interest Rate Net Loan Fee
Subsizided Loan Undergraduate 4.5% 0.5%
Subsizided Loan Graduate 6.8% 0.5%
Unsubsizided Loan Undergraduate/Graduate 6.8% 0.5%
PLUS Loan Graduate/Parent of Undergraduate 7.9% 2.5%

* As of July 1, 2010, Subsidized and Unsubsidized Direct Loans will have an origination fee of 1.0% and an up-front rebate of 0.5%, for net loan fees of 0.5%. Direct PLUS loans will have an origination fee of 4.0% and an up-front rebate of 1.5%, for net loan fees of 2.5%. For borrowers who make their first 12 loan payments on-time, the rebate is permanent; otherwise, the rebate will be reversed, adding to the outstanding loan balance.