A legacy provision permits parents with existing Parent PLUS loans for a dependent student to continue to borrow under current loan limits for 3 academic years or the remainder of their dependent student’s expected time to complete their current credential, whichever is less.

Additional guidance will be forthcoming from the U.S. Department of Education that will provide more details.

The new Parent PLUS Loan annual limit taking effect July 1, 2026 is $20,000 per dependent student. If you have two dependent undergraduate students for example, then the annual Parent PLUS limit is up to $20,000 for each student ($40,000 total).

The aggregate limit for Parent PLUS Loans will be $65,000 per dependent student.

All parents (combined) have an annual Parent PLUS loan limit of $20,000 per dependent student and a $65,000 aggregate limit per dependent student. If two parents individually apply for two separate Parent PLUS loans for the same dependent student, the combined total of the two loans cannot exceed $20,000 for the year.

Freshman students meeting the criteria for federal student aid may be eligible for $5,500 in the Direct Subsidized/Unsubsidized Loan. Parents of freshmen may qualify for Parent PLUS Loans up to $20,000 subject to credit approval.

If you need additional funds to assist with covering costs above the federal loan amounts listed above, or if you do not qualify for federal loans, private loans may be an option. Rice provides a historical list of lenders offering competitive rates and terms to begin your research.

No. The expected time to completion is determined by the standard amount of time a credential typically requires. For example, a bachelor’s degree is typically completed in four years. If an undergraduate student has attended Rice part-time or full-time for 3 years, then there is 1 year remaining in the expected time to credential.

No, as long as the student remains within the same program of study and same degree type at the institution. Note that changing majors does not extend the expected time to completion.

Yes, the Grad PLUS Loan is available for the 2025-2026 academic year to current graduate students if the loan is disbursed prior to July 1 or if you meet the legacy provision.

If your current program is a graduate program, then you would need to have borrowed a Federal Direct Loan prior to July 1, 2026 toward the current program. This means you will need to borrow and receive funds before July 1, 2026 to be eligible to receive a Grad PLUS loan after July 1, 2026.

Once you borrow, you can continue to take out a Graduate PLUS Loan until the scheduled length of your program ends or up to three academic years after 2025-2026, whichever is less.

Note that students may not extend their years of eligibility by enrolling in a new degree or credential beyond their current program of study.

Students meeting the criteria for federal student aid may be eligible for the following federal loans:

• Enrolled in a graduate program:
  • Federal Direct Unsubsidized Loan: $20,500

If you need additional funds to assist with covering costs above the federal loan amounts listed above, or if you do not qualify for federal loans, private loans may be an option. Rice provides a historical list of lenders offering competitive rates and terms to begin your research.

Rice graduate programs are only eligible for the graduate program loan limits. This includes the MBA, professional master’s, and other Rice graduate degree programs.

No. The expected time to completion is determined by the standard amount of time the credential typically requires. For example, a master’s program which is typically completed in four semesters has an expected time to credential defined as four semesters. If a graduate student in this example has attended Rice part-time or full-time for 2 semesters (1 year), then there are 2 semesters (1 year) remaining in the expected time to credential.

No. Even if the doctoral program is in the same area of study, it is a new program and would not be eligible for the legacy provision.

Since the period of non-enrollment was before July 1, 2026, it would not count against your eligibility for the legacy provision. A period of non-enrollment after July 1, 2026 would count against the scheduled length of your program ends or up to three academic years after 2025-2026, whichever is less.