There are different limits for each type of loan regarding federal student loans. However, depending on the year that you're applying in as well whether or not your parents can provide financial support and if you're considered "dependent" (relying upon them), then these factors will change what kind of funding option might work best! The criteria for an independent student must meet one of the following conditions: Legally emancipated from guardians/parents Determined to be a homeless or unaccompanied minor. Married Has a dependent (child) Grad School Active duty U.S. armed forces or veteran Orphaned or foster care after the age of 13 Is on active duty or a veteran of the U.S. armed forces It can be tough to decide which type of loan is right for you. A Direct PLUS Loan has some great benefits, but they come with higher interest rates than other federal student loan progams do! Remember, before applying for a private student loan, be sure to apply with the federal government through FAFSA. With many different limits and conditions depending on where you're going in school, all options must be considered just as much of your cost-of-attendance is covered by loans from both state institutions or even private sources but don't forget about these valuable resources which can give an accurate estimate based off information already submitted during registration!