The One Big Beautiful Bill legislation changed several federal student loan programs, including borrowing limits, loan availability and repayment options. These changes may affect graduate and professional students, parents and some continuing borrowers.
Students and families should review how the updated rules may affect their financial planning and contact the Financial Aid Office with questions about their individual eligibility.
Graduate PLUS Loans are no longer available to new borrowers. Graduate and professional students may instead use Direct Unsubsidized Loans, subject to updated annual and aggregate borrowing limits.
A new borrower is generally someone who had no outstanding Direct Loans when the updated rules took effect or whose previous Direct Loans had been paid in full.
Some continuing students may remain eligible for Graduate PLUS Loans under legacy provisions. Contact the Financial Aid Office to determine whether you qualify.
Graduate students, including students in master’s and doctoral programs, may borrow:
Up to $20,500 per year
Up to $100,000 in total graduate borrowing, excluding undergraduate loans
Professional students in programs such as law, medicine, dentistry and pharmacy may borrow:
Up to $50,000 per year
Up to $200,000 in total borrowing
Parent PLUS Loans remain available, but borrowing is limited to:
$20,000 per year, per student
$65,000 total, per student
These limits replace the previous model that allowed parents to borrow up to the student’s cost of attendance.
New federal student loan borrowers have two repayment options:
A revised Standard Repayment Plan
The Repayment Assistance Plan
Borrowers with existing loans may be able to remain in their current repayment plans. Consolidating existing loans or borrowing additional funds may affect available repayment options.
Some students who borrowed for their current academic program before the new rules took effect may continue borrowing under the previous loan provisions for up to three additional years.
To qualify, students generally must:
Remain enrolled in the same credentialed program
Have an outstanding federal student loan for that program that was issued before the new rules took effect
A continuing or active borrower generally must have been enrolled in the program and had an outstanding federal loan for that program before the updated rules took effect.
Changing academic programs or taking a leave of absence may affect eligibility under the legacy provisions. Students considering either option should contact the Financial Aid Office before making changes.
Federal loan amounts may be adjusted for students enrolled less than full time. The amount available will depend on the student’s enrollment level.
Direct Subsidized and Unsubsidized Loan limits for undergraduate students have not changed. However, undergraduate students whose parents use Parent PLUS Loans may be affected by the new Parent PLUS borrowing limits.
New Parent PLUS Loans are limited to the revised Standard Repayment Plan and are not eligible for Public Service Loan Forgiveness under the updated rules.
Students and families should:
Review current borrowing and enrollment plans
Determine whether legacy provisions may apply
Consider how the new borrowing limits could affect future educational costs
Contact the Financial Aid Office for guidance based on their individual circumstances
Federal student loan eligibility depends on several factors, including the borrower’s loan history, academic program and enrollment status. Contact the Financial Aid Office for help understanding how these changes may apply to you.