Federal Student Aid Updates
The signing of the One Big Beautiful Bill Act (OBBBA) brings about a number of changes to student financial aid that impact both students and their parents.
Guidance on changes as a result of OBBBA are still being finalized, however the Office of Scholarship & Financial Aid (OSFA) is dedicated to providing relevant updates to our students, their supporters, and our community. We'll continue to update this page as we learn more and receive additional information from Federal Student Aid. Thank you for your patience as we work to bring you the most up-to-date information.
Updates At a Glance
Important Timeline Info
Many changes begin to take effect on July 1, 2026, while others will begin with the 2026-2027 academic year.
Elimination of the Graduate PLUS Loan
The Graduate PLUS loan will no longer be available to new borrowers, beginning July 1, 2026.
Students who borrowed before July 1, 2026 may qualify for the Limited Exception.
New Limits on Parent PLUS Loans
Effective July 1, 2026, parents of undergraduate dependent students will be limited in how much they can receive in the parent PLUS loan. Parent PLUS Loans will be capped at:
- $20,000 per student per year and
- $65,000 per lifetime.
Parents who borrowed before July 1, 2026 may qualify for Limited Exception.
Limited Exception
Students or parents of dependent students who meet certain requirements may be eligible for the Limited Exception. This exception allows for a period of time after July 1, 2026 and before the new loan limits apply where the student/parent would be exempt from certain loan limits and loan eligibility changes.
Loan Reductions for Students Enrolled Less than Full-Time
Effective Fall 2026, the amount in student loans that can be borrowed for each academic year will be reduced for students enrolled less than full-time.
Full-time enrollment is defined as:
- Undergraduate students: 12 + units
- Graduate and Professional students: 9 + units
Students must be enrolled at least half-time (6 units for undergraduate students, 5 units for graduate and professional students) to be eligible to receive federal loans.
Loan Limits for Professional Students
There will be new loan borrowing limits for students who are enrolled in a Professional program, as newly defined under OBBBA and related regulations. This change will effect students who are enrolled in a Graduate non-Professional program, including students enrolled in certain Health Profession programs. Learn more about which programs are impacted on studentaid.gov.
New Loans Limits for Graduate and Professional Students
Unless you qualify for limited exception, the following new limits apply for new graduate and professional students, effective July 1, 2026:
Student Type | Annual Limit | Lifetime Limit |
Graduate (Master’s/Research) | $20,500 | $100,000 |
Professional (Medicine, Dentistry, Optometry, Pharmacy, Veterinary, etc.) | $50,000 | $200,000 |
Overall Federal Loan Cap (excl. Parent PLUS) | N/A | $257,500 |
Eligibility for limited exception is dependent on a variety of factors, including a student or parent's borrowing history and current time in program. For additional information, including specific borrower scenarios, review studentaid.gov.
Unfortunately, no.
These rules are federal rules and were determined by the signing of the One Big Beautiful Bill Act (OBBBA).
If you need to borrow beyond the annual loan limits for federal loans, there are many private student loan options available. Review the tools on our Private Loan page to help you make well-informed decisions.
For a complete list of programs that are professional degree programs, visit studentaid.gov and review the "Professional Students" drop-down item.