How much can I borrow from the Missouri Higher Education Loan Authority?

The amount one can borrow from the Missouri Higher Education Loan Authority generally depends on several factors, including the type of loan, the student's financial need, and the cost of attendance at the institution they are attending. Typically, for federal student loans, there are established limits for both undergraduate and graduate students. For instance, undergraduates may borrow between six thousand to twelve thousand dollars annually, while graduate students might be eligible for larger amounts, sometimes exceeding twenty thousand dollars per year. It is important for borrowers to also consider the aggregate loan limits, which cap the total amount a student can borrow throughout their academic career. Beyond federal loans, MOHELA may also service some private loans or other financing options but the borrowing limits for these can vary and depend heavily on creditworthiness and other criteria. To obtain specific information tailored to individual circumstances, it is advisable to consult the official website where current guidelines and limits are explained. This ensures that one receives the most relevant and accurate information regarding borrowing capacity.