Federal student loan rules are changing on July 1, 2026. If you or someone in your family is planning to pay for college, graduate school, or a professional degree, it is important to understand what is changing and how it may affect your options.

Here’s what to know:

Parent PLUS Loans

  • Before July 1, 2026, parents could generally borrow up to the school’s full cost of attendance, minus other financial aid.
  • Beginning July 1, 2026, Parent PLUS Loans will be capped at $20,000 per year per student, with a $65,000 total limit per child.

Grad PLUS Loans 

  • Before July 1, 2026, graduate and professional students could use Grad PLUS Loans to help cover remaining school costs.
  • Beginning July 1, 2026, Grad PLUS Loans will generally no longer be available to new borrowers. Graduate and professional students may still be able to use federal Direct Unsubsidized Loans, but those loans will have borrowing limits.
What does this mean for families?
After scholarships, grants, federal aid, and school payment plans, some students and families may still have a remaining funding gap. If that happens, it is important to compare your options before borrowing. With our Student Loan Marketplace, you can search and compare private student loan rates from multiple lenders in one place.