Yes, if the parent has borrowed a Federal Direct PLUS Loan before July 1, 2026, or if the student has borrowed a student loan prior to July 1, 2026, the parent falls under legacy and may continue borrowing under the current loan limits. This provision remains in effect for up to three academic years or until the dependent student completes their program requirements, whichever happens first. The student must stay enrolled in their current program of study.

If you are starting a new graduate program after July 1, 2026, you will be subject to the new borrowing rules. Under these rules, you will be eligible to borrow up to $20,500 per year, with a lifetime limit of $100,000. This limit includes any prior Direct Unsubsidized Loans you have borrowed for previous graduate programs.

We are currently awaiting additional guidance on how borrowing from previous programs, including undergraduate or other graduate degrees, will be factored into the new lifetime limits. Further details will be provided as they become available.

The Juris Doctorate (JD) program in the College of Law is currently the only Professional Program at DePaul under OBBBA. The current regulations (34 CFR 668.2) define what is considered a professional program. All other law programs are considered graduate programs under OBBBA.

If you are starting a new Juris Doctorate (JD) program in the College of Law after July 1, 2026, you will be subject to the new borrowing rules. Under these rules, you will be eligible to borrow up to $50,000 per year, with a lifetime limit of $200,000. This limit includes any prior Direct Unsubsidized Loans you have borrowed for previous graduate programs.

We are currently awaiting additional guidance on how borrowing from previous programs, including undergraduate or other graduate degrees, will be factored into the new lifetime limits. Further details will be provided as they become available.

If you received disbursement of your Federal Direct Student Loan before July 1, 2026, for the program you are currently enrolled in, you qualify for the legacy provisions.

You can continue to borrow federal student loans under the federal loan programs originally available to you when you started your program of study for up to three additional academic years or until your expected degree completion date (whichever comes first). The federal student loan limits (annual and total) continue to apply.

For example, graduate students can continue to apply for the Graduate PLUS Loan to finance their education expenses up to cost of attendance for the 2026-27 academic year.

Once a student has completed their program requirements or reached the three year maximum limit under the legacy provisions, remaining coursework and program requirements would be subject to the new federal loan requirements. 

Students using Grad PLUS Loans under the legacy provisions, will no longer have access to the Grad PLUS program. Parents of undergraduate students using Parent PLUS under the legacy provisions,  would be subject to the new federal loan requirements. 

If you return from your leave of absence and borrow a federal loan after July 1, 2026, you will be considered a new borrower for federal Title IV aid purposes. The new limits and program rules will apply.

Private educational loans are offered by private lenders, banks, credit unions, and state agencies to students. The terms can vary depending on the lender and normally require a credit check. It is important to compare interest rates, repayment terms, and borrower protection policies offered by each lender. See more guidance and resources here.

If you have additional questions about OBBBA or your financial aid, our dedicated financial aid team is here to help. We’re committed to providing clear guidance and personalized support to ensure you have the resources and information you need to succeed. Don’t hesitate to reach out—We’re here to serve you every step of the way.