The new limits
| Who | Per year | Total |
|---|---|---|
| Graduate student (Direct Unsubsidized) | $20,500 | $100,000 (on top of undergraduate borrowing) |
| Professional student (Direct Unsubsidized) | $50,000 | $200,000 (graduate and professional together can’t exceed $200,000) |
| Parent PLUS, per dependent student, all parents together | $20,000 | $65,000 |
| Lifetime cap for a student’s own federal loans | — | $257,500 (parent PLUS borrowed for a child not included) |
Grad PLUS
For periods of instruction beginning on or after July 1, 2026, graduate and professional students can no longer receive Direct PLUS loans, unless the interim exception applies. See the exception for current students.
Other changes
- Less than full-time enrollment reduces the yearly limit in proportion.
- A school may set a lower limit for a program, applied the same way to every student in it.
- Amounts repaid or forgiven do not restore room under the parent PLUS and lifetime caps.
What counts as “professional”
The Department’s definition of a professional degree decides who gets the $50,000 limit. On June 24, 2026, a federal court in Washington, D.C. preliminarily stayed part of that definition. StudentAid.gov advises students to ask their school whether their program is affected.
Not financial or legal advice. This page explains the published rules. It does not tell you which plan to choose. Your loan servicer and StudentAid.gov have the final word on your account.
Official sources
- Public Law 119-21 (H.R. 1, signed July 4, 2025), Title VIII, Secs. 81001–82004
- StudentAid.gov: One Big Beautiful Bill Act – Important Definitions (updated Aug. 24, 2026)
Last verified Oct 17, 2026. Corrections are logged on What changed.
Next guide: Already in school? The exception that keeps the old loan limits