Current Graduate Student
You are currently enrolled in a graduate or professional program and will continue in the 2026-27 academic year
Exception for Current Students (a.k.a. "legacy" or "grandfather" provisions):
Most current students qualify for an exception: If you qualify, you can borrow Graduate PLUS loans under prior limits for up to 3 academic years
You may continue borrowing Graduate PLUS loans under prior limits for up to 3 academic years (or the remainder of your academic program, whichever is less) if -
- You are enrolled as of June 30, 2026, and
- You previously borrowed a federal loan for your academic program, and
- You remain in the same academic program through graduation
Key Detail: The OBBB does not provide exceptions for:
- Reduced annual loan limits for part-time enrollment
Reduced Annual Loan Limits for Part-Time Enrollment
Limited loan eligibility for part-time students: If you enroll less than full-time (12 credits per semester- Fall, Spring, or Summer), your annual loan limit must be reduced proportionally
Example: If you enroll half-time during the Fall semester (6 credits), the portion of your annual loan limit attributable to the Fall will be reduced by 50 percent. If the amount you plan to borrow for the Fall exceeds the new limit, your Fall loan will be reduced to the new limit.
Action: If you plan to enroll part-time and your federal loans are reduced, leaving a funding gap, consider private education loan options
What's Changing:
New Annual, Aggregate, and Lifetime Total Loan Limits
Critical Change: Graduate PLUS loans are no longer available starting July 1, 2026 (most current students qualify for an exception)
| Program Type | Annual Limit | Aggregate Limit | Lifetime Maximum |
|---|---|---|---|
| Graduate Student | $20,500 | $100,000 | $257,500 (all undergrad, grad, and professional) |
| Professional Student (e.g., Law, Pharmacy, and Clinical Psychology PhD) |
$50,000 | $200,000 |