Quick answer: For 2026–27, undergraduate limits did not change: $5,500 to $12,500 a year. Graduate students can borrow $20,500 a year ($100,000 total) and professional students $50,000 a year ($200,000 total). Grad PLUS loans ended for new borrowers on July 1, 2026. Parent PLUS is now capped at $20,000 a year and $65,000 per student. No one can borrow more than $257,500 in federal student loans in their lifetime.
Check your own limits
Pick your situation to see your yearly limit, what’s left of your total and lifetime limits, and your interest rate.
2026–27 federal student loan limits
Undergraduate students (no change)
| Year in school | Dependent students | Independent students* |
|---|---|---|
| 1st year | $5,500 (up to $3,500 subsidized) | $9,500 (up to $3,500 subsidized) |
| 2nd year | $6,500 (up to $4,500 subsidized) | $10,500 (up to $4,500 subsidized) |
| 3rd year and later | $7,500 (up to $5,500 subsidized) | $12,500 (up to $5,500 subsidized) |
| Total limit | $31,000 (up to $23,000 subsidized) | $57,500 (up to $23,000 subsidized) |
*Also applies to dependent students whose parents can’t get a Parent PLUS loan.
Graduate and professional students (new limits)
| Graduate students | Professional students | |
|---|---|---|
| Yearly limit | $20,500 | $50,000 |
| Total limit | $100,000 | $200,000 minus any loans received as a graduate student |
| Grad PLUS | No longer available to new borrowers | |
Professional degrees include MD, DO, DDS/DMD, PharmD, DVM, OD, DPM, DC, JD, M.Div./M.H.L. and PsyD/PhD in clinical psychology. While court cases continue, some other programs are also being treated as professional. Ask your school.
Parents and lifetime limit
| Parent PLUS, per student per year | $20,000 |
| Parent PLUS, total per student (all parents combined) | $65,000 |
| Lifetime limit on federal student loans (Parent PLUS not counted) | $257,500 |
Other rules to know
- Part-time students: for terms starting on or after July 1, 2026, your yearly limit is cut in proportion to how much less than full-time you study. You must be at least half-time to get these loans.
- Already enrolled before the change? If you were enrolled in your program on June 30, 2026 and got a federal loan for it before July 1, 2026, the old limits (including Grad PLUS) apply for up to 3 more years or until you finish, whichever comes first.
- Cost cap: federal loans can never be more than your cost of attendance minus other aid. Your school may also set lower limits for some programs.
- 2026–27 interest rates (fixed): 6.52% for undergraduates, 8.07% for graduate and professional students, 9.07% for PLUS loans. Origination fees: 1.057% (Direct Loans) and 4.228% (PLUS).
Need to know if federal loans will cover your costs? Try the Funding Gap Calculator.
Sources
- Federal Student Aid: One Big Beautiful Bill Act – Important Definitions (loan limit charts)
- Federal Student Aid: Subsidized and Unsubsidized Loans
- FSA Partner Connect: Reducing annual loan limits for less-than-full-time enrollment (FAQ)
- FSA Partner Connect: 2026–27 interest rates
Last checked: November 6, 2026. Limits and rates can change each year. Always confirm with studentaid.gov or your school’s financial aid office.