The OBBBA introduces changes to federal student aid beginning July 1, 2026 (unless otherwise noted). The most current information available to us regarding these changes and their impact on students and families is below.
We are closely monitoring this legislation and will update this page as necessary.
Grad PLUS Loan Changes and Alternative Options
Prior to the implementation of the OBBBA, Grad PLUS loans allowed graduate students to borrow up to the full cost of attendance (minus other aid).
As of July 1, 2026, the option to borrow a Grad PLUS loan will be eliminated for students who have not previously borrowed on a Grad PLUS loan or are in a different degree program than they were when they borrowed.
Students who previously borrowed under the Grad PLUS program while in their current degree program, before July 1, 2026, may borrow a Grad PLUS loan for up to three additional academic years or until they complete their program, whichever comes first. This continuation applies only for the degree program the student was/is enrolled in when they borrowed their loan.
For more information on loans or Graduate aid, please review the links below:
https://financialaid.tcnj.edu/loan-processing/
https://financialaid.tcnj.edu/sources-of-financial-aid/financial-assistance-for-graduate-students/
Borrowing Limits for Parent PLUS Loans
Parents will be subject to new annual and lifetime borrowing caps per dependent student as detailed below.
Effective 7/1/26
| Annual Loan Limit |
Lifetime Loan Limit |
|
|---|---|---|
| Parent PLUS | $20,000 | $65,000 |
If a parent received a Federal PLUS loan before July 1, 2026, the parent can continue to borrow under the loan limits prior to the implementation of the OBBBA for up to three more academic years or until the student finishes their degree program, whichever comes first. This continuation applies only for the degree program the student was enrolled in when the parent first borrowed.
Parents looking for alternative borrowing options due to these loan limits can review the website below:
https://financialaid.tcnj.edu/loan-processing/
Federal Direct Loan Proration
Annual loan amount eligibility will be prorated depending on the student’s academic grade level and enrollment level, per semester. This means student borrowers enrolled less than full time for the semester will only be able to borrow loan amounts in direct proportion to their unit/credit load, with a minimum half-time enrollment requirement still in place for all federal loans.
Cost of Attendance (COA) covered by scholarships/grants
Students who receive scholarships or grants from non-federal sources that cover their entire COA will not be eligible to receive a Pell grant even if they meet the eligibility criteria for the program.