One Big Beautiful Bill Act (OBBBA)
Learn more about the One Big Beautiful Bill Act (OBBBA) and find answers to frequently asked questions here.
CLICK HERE FOR OBBBA FAQsThe following are frequently asked questions (FAQs) about the One Big Beautiful Bill Act (OBBBA).
Please use the navigation buttons below to skip to questions specific to Undergraduate Students or Graduate and Professional Students.
The One Big Beautiful Bill Act (OBBBA) introduces changes to federal aid including loan programs which may have an impact to your financial aid going forward. While undergraduate loan limits remain unchanged, new caps have been introduced for Parent PLUS loans, along with major changes to graduate student borrowing. These changes will start rolling out in Summer 2026 and understanding them now can help you plan ahead for both your education and your finances. We will continue to update this page as we receive more guidance from the U.S. Department of Education.
-
Institutions will be required to prorate annual federal loan amounts based on the number of units you’re enrolled in.
-
Anyone who has borrowed federal student or parent loans for the first time as of July 1, 2026.
-
- Parent(s) (combined): $20,000 per academic year per student
- Lifetime maximum: $65,000 per student
The annual and lifetime limits apply per dependent student and not per parent.
-
Anyone who takes out federal student or parent PLUS loan before July 1, 2026.
-
No. They may continue to apply to borrow through their student’s current program of study until program completion or for three academic years, whichever is shorter.
-
No. The Graduate PLUS Loan program will be discontinued for new borrowers.
-
- Lifetime borrowing maximum of $100,000 (not including loans borrowed as an undergraduate).
- Annual limit remains $20,500 per academic year
-
- May borrow up to $50,000 per academic year
- Lifetime maximum of $200,000 (not including loans borrowed as an undergraduate).
*The U.S. Department of Education has yet to release a comprehensive list of professional programs. We will continue to monitor and update as we receive this information.
-
Lifetime borrowing maximum of $257,500 (excludes Parent PLUS Loan amounts).
-
Anyone who takes out federal student or parent loans before July 1, 2026.
-
Current Graduate PLUS borrowers can continue to apply to borrow through their current program of study until degree completion or three academic years, whichever is shorter.
-
No. The annual borrowing limit remains $20,500. The lifetime limit remains $138,500 (includes both undergraduate and graduate borrowing).