|(a) Aggregate Loan Limit. The maximum aggregate loan
amount for any eligible student shall take into account the definition
of manageable debt under the Board's Long-Range Master Plan for Higher
(b) Annual Loan Limit. In no case shall the annual
loan amount exceed the difference between the cost of attendance and
the financial resources available to the applicant, including the
applicant's scholarships, gifts, grants, and other financial aid.
The student's maximum eligibility for Federal Direct Loans, except
for Federal Plus loans, must be considered by the institution as other
financial aid, whether or not the student actually receives such assistance.