University of the Pacific’s Office of Financial Aid strives to provide students and parents with accurate and timely updates when there are changes to the financial aid programs. Below there are summaries as well as links to additional information about how the most recent legislative changes may impact your eligibility in the Pell Grant and federal loan programs. The financial aid office is continuing to monitor changes and will update this page as additional information becomes available.  

Parent Loan for Undergraduate Students (PLUS)

Under recent legislation passed by Congress under the One Big Beautiful Bill Act (OBBBA) the federal parent loan program is poised for significant changes in eligibility beginning July 1, 2026. The Parent Loan for Undergraduate Students (PLUS) first became available in 1980. Students and parents across the nation have questions about how they will fund their educations in the face of restrictions on borrowing amounts in the parent PLUS program as well as the elimination of the graduate PLUS program.

According to current language in the legislation, the good news is that students and/or parents who borrow from the federal direct loan programs during the 2025-2026 academic year (July 1, 2025 – June 30, 2026) will maintain their eligibility under the current rules as legacy borrowers. Legacy borrowers may be eligible to borrow for whichever of the following time periods ends first:

  1. No more than three academic years of continuous enrollment; or
  2. the published length of their current program; or
  3. the completion of their current program.

Please note changes from undergraduate to graduate or professional status will result in immediate loss of legacy eligibility

New Caps for Loan Totals

Parent PLUS for new borrowers (non-legacy borrowers)

  • $20,000 per year per dependent student
  • $65,000 aggregate limit per dependent student (without regard to amounts forgiven, repaid, canceled, or discharged)

Grad PLUS

Under recent legislation passed by Congress under the One Big Beautiful Bill Act (OBBBA) the federal graduate student loan programs are poised for significant changes in eligibility beginning July 1, 2026. The Grad PLUS first became available in 2006. Students across the nation have questions about how they will fund their educations in the face of the elimination of the graduate PLUS program.

According to current language in the legislation, the good news is that students who borrow from the federal direct loan programs during the 2025-2026 academic year (July 1, 2025 – June 30, 2026) will maintain their eligibility under the current rules as legacy borrowers. Legacy borrowers may be eligible to borrow for whichever of the following time periods ends first:

  1. No more than three academic years of continuous enrollment; or
  2. the published length of their current program; or
  3. the completion of their current program

Please note changes from undergraduate to graduate or professional status will result in immediate loss of legacy eligibility

Grad PLUS for new borrowers (non-legacy borrowers)

The Grad PLUS has been eliminated

Graduate Unsubsidized Loan Limits for new borrowers (non-legacy borrowers)

  • $20,500 per year for graduate students, with an aggregate limit of $100,000
  • $50,000 per year for professional students, with an aggregate limit of $200,000

Lifetime borrowing (across undergraduate and graduate education) is capped at $257,500 on all federal student loans except for Parent PLUS

Undergraduate federal student loans

Both dependent and independent undergraduate students can still borrow the current annual maximums each year from the Federal Subsidized and Unsubsidized loan programs, EXCEPT when they are enrolled less than full time.

Students who initially enroll less than full time or withdraw or drop to part time at any point in the semester may lose some or all of their loan eligibility. Student who lose their loan eligibility may as a result owe money to the university.

Lifetime borrowing (across undergraduate and graduate education) is capped at $257,500 on all federal student loans except for Parent PLUS

Elm Select

The university has explored several borrowing options for students and parents who will be new borrowers beginning July 1, 2026. All borrowers are invited to explore these options which are offered by lenders in the private market. We are pleased to present several loan options on our Elm Select page.

If you have questions, please contact the Office of Financial Aid