Manage Federated Users With Their Policies More Than a Limit

I am working on amazon s3 buckets, i have a n number of users whom data has to be stored on the amazon. i want to give access to those users on their correspondence folders only.

The approach i selected is to use federated users credentials for each user and a policy to that credentials that he can use only his folder with that credentials.

But their is a limit on user management policies in amazon (1000 user policies per aws account). where as i have n number of users .

So please give me the best solution for n number of users for accessing amazon bucket/folders for back up and restore.

Thanks In Advance :)