The Free Application for Federal Student Aid (FAFSA) is used to determine a student's eligibility for federal student aid programs, including loans. Several factors can increase the total loan balance calculated through the FAFSA:

  1. Cost of Attendance (COA): The total loan amount you're eligible for through FAFSA is influenced by the Cost of Attendance (COA) at your chosen school. This includes tuition and fees, room and board, books and supplies, transportation, and miscellaneous personal expenses. A higher COA can result in a higher loan eligibility.

  2. Expected Family Contribution (EFC): The EFC is a measure of your family's financial strength and is calculated based on the information provided in your FAFSA. A lower EFC indicates higher financial need and can result in higher eligibility for need-based loans.

  3. Dependency Status: Dependent students (those who are claimed as dependents on their parents' tax returns) generally have lower loan limits compared to independent students. If you're an independent student, your loan eligibility might be higher.

  4. Grade Level: The loan limits for federal student loans vary depending on your grade level in school. For example, freshmen typically have lower loan limits compared to upperclassmen.

  5. Subsidized vs. Unsubsidized Loans: Subsidized loans are need-based loans where the government pays the interest while you're in school and during certain deferment periods. Unsubsidized loans are not need-based, and you're responsible for paying all the interest. Depending on your financial need, you may qualify for subsidized loans, which can increase your total loan balance without accruing interest while in school.

  6. Graduate or Professional Student Status: Graduate and professional students have higher loan limits compared to undergraduate students. Graduate students may be eligible for higher amounts of unsubsidized loans to cover the cost of their education.

It's essential to borrow only what you need to cover educational expenses and to explore all available options for grants, scholarships, and work-study before taking out loans. Additionally, understanding the terms and conditions of each loan option is crucial to managing your finances responsibly.