1 Unsubsidized Stafford Loans are not based on income, but not all students will be eligible for the maximum loan amount. 2  A student’s year in school, their additional financial aid awards and the estimated cost of attendance will be factored into the eligibility decision.f you're a dependent undergraduate student, each year you can borrow up to: 1  $5,500 if you're a first-year student enrolled in a program of study that is at least a full academic year. 2  No more than $3,500 of this amount may be in subsidized loans.