Information for Graduate Students
The information provided above reflects our current understanding of federal financial aid changes under the One Big Beautiful Bill Act (OBBBA) and is not intended to be legal advice.
What’s happening with Grad PLUS Loans?
Grad PLUS Loans are being phased out under the new law.
New graduate and professional students will no longer be eligible to borrow Grad PLUS for terms that begin on or after July 1, 2026**.
**If you’re already borrowing Direct Loans for your graduate program before July 1, 2026, you may be eligible to borrow Grad PLUS for future academy years. To be eligible, you must be continuously enrolled in your current program of study. If you take a leave of absence or go on academic pause, you will be considered a new borrower subject to the new loan limits. You will also be considered a new borrower if you temporarily stop attending your current program of study to enroll in and/or complete another program.
What are the new borrowing limits for graduate and professional students?
Starting in the 2026–27 academic year, new federal loan limits will apply to graduate and professional students:
- Graduate students will be limited to $20,500 per year in unsubsidized loans.
The lifetime cap for graduate-level borrowing will be $100,000, not including any undergraduate loans. If you borrowed before July 1, 2026, you remain eligible for the previous loan limits.
Is my program a Professional or Graduate program? How can I find that out?
CMU offers graduate level post-baccalaureate programs. Current programs are not listed as professional programs.
The distinction between “graduate” and “professional” programs is defined in federal regulation (34 CFR § 668.2) and affects how much you can borrow each year.
If Grad PLUS is going away, what alternative funding options should I be considering now?
Grad PLUS will no longer be available to new borrowers starting in 2026–27, so it’s important to explore other funding options early. These may include:
- Institutional scholarships or assistantships
- A historical list of private education lenders used by CMU students
- Employer-sponsored education benefits or public service programs
- Monthly payment plans through the CMU Student Accounts office
- External scholarships or fellowships
Are students who are provisionally or conditionally accepted into a graduate program eligible for the legacy borrowing provisions in OBBBA?
No, students who are enrolled in preparatory coursework do not qualify for the legacy borrowing provisions under the One Big Beautiful Bill Act (OBBBA) and would be treated as new borrowers.