Old Dominion University continues to assess how policy changes are impacting our students and their financial aid. This page will be updated if any additional changes are implemented.
Interim Exceptions
Students meeting the following criteria may be eligible to maintain prior loan rules under an interim exception (legacy provision). Students must meet all of the following to maintain the interim exception.:
- The student is enrolled in a program of study at the institution as of June 30, 2026
- No break in fall and spring semester enrollment (summer is not required)
- A Direct Loan was made for that program of study prior to July 1, 2026
- Are within the prior aggregate (total) loan borrowing limits
The interim exception lasts for three years or for the remainder of a student’s expected time to credential in their current program (whichever is less).
Students who change programs/degrees, take a semester off from their program, or take longer three years or for the remainder of their expected time to credential in their current program will lose their interim exception status. If a student ceases to qualify for the interim exception, they will be held to the new rules for loan borrowing.
Loan Limit Changes (Effective for 2026-2027 Academic Year)
Undergraduate Annual Loan Limits have not changed.
There are new limits imposed on Parent PLUS Loan Limits for students who do not qualify for the interim exception:
- Annual Parent PLUS Loan Limit: $20,000
- Aggregate Parent PLUS Loan Limit: $65,000
The new loan limits are applied on a student level basis. If a parent has more than one dependent student in school for whom they are borrowing Parent PLUS Loans, they will have separate limit counts for each student, and it is not combined.
These limits only apply to new graduate/professional students and those who do not qualify for the interim exception.
| Students | Annual Loan Limits | Aggregate (Total) Loan Limits |
|---|---|---|
| Graduate Students | $20,500 (unchanged) | $100,000 |
| Professional Students | $50,000 | $200,000 |
The aggregate limits do not include amounts borrowed as an undergraduate. Borrowers who are both graduate and professional students at some point in their educational careers may only borrow up to $200,000 in total for graduate and professional schools.
Undergraduate Annual Loan Limits have not changed.
There are new limits imposed on Parent PLUS Loan Limits for students who do not qualify for the interim exception:
- Annual Parent PLUS Loan Limit: $20,000
- Aggregate Parent PLUS Loan Limit: $65,000
The new loan limits are applied on a student level basis. If a parent has more than one dependent student in school for whom they are borrowing Parent PLUS Loans, they will have separate limit counts for each student, and it is not combined.
These limits only apply to new graduate/professional students and those who do not qualify for the interim exception.
| Students | Annual Loan Limits | Aggregate (Total) Loan Limits |
|---|---|---|
| Graduate Students | $20,500 (unchanged) | $100,000 |
| Professional Students | $50,000 | $200,000 |
The aggregate limits do not include amounts borrowed as an undergraduate. Borrowers who are both graduate and professional students at some point in their educational careers may only borrow up to $200,000 in total for graduate and professional schools.
Lifetime Maximum Loan Limit (Undergraduate and Graduate/Professional Students)
The new loan limits also include a lifetime maximum of $257,500 for all students except for those who qualify for the interim exception. The lifetime maximum includes loans borrowed for undergraduate and graduate/professional degrees but does not include Parent PLUS Loans.
Loan Adjustments for Students Enrolled Less than Full Time
Beginning with Fall 2026, Federal Subsidized, Unsubsidized, and Graduate PLUS Loans will be reduced for students who are not enrolled full time. Reductions will be prorated based on your actual hours of enrollment. This means that students who are not enrolled full time may not be eligible to borrow the full annual loan limit in that semester/academic year.
This new rule applies to all students, even those qualified for the interim exception as it relates to loan limits.
Example:
An undergraduate student enrolls in:
- 9 credits for fall
- 12 credits for spring
- This is a total of 21 credits for the year
To calculate the reduction, we will divide total credits for the year by the number of credits required for full time enrollment in a year:
- 21/24 = 87.5%, which is rounded to the nearest full percent of 88%
That percentage is then applied to your annual loan limit:
- A dependent, freshman student is eligible for a maximum of $5,500 per year in subsidized and unsubsidized loans combined.
- $5,500 x 88% = $4,840
This student’s combined subsidized and unsubsidized loan limit is $4,840 for the academic year.
Frequently Asked Questions
The One Big Beautiful Bill (OBBBA) is new federal legislation signed into law on July 4, 2025, that makes major changes to federal student aid programs.
Most changes begin July 1, 2026, affecting the 2026–2027 academic year and beyond.
Graduate and Professional Students
Students who meet the criteria for the interim exception (legacy provision) may still be eligible to borrow Graduate PLUS Loans and can continue to borrow under the old loan limits.
Current students who qualify for the interim exception retain eligibility for the Graduate PLUS Loan for 3 academic years or the remainder of their expected time to credential, whichever is less.
If you change your program of study after June 30, 2026, you may lose your eligibility to borrow Graduate PLUS Loans.
New graduate students are not eligible to borrow Graduate PLUS Loans.
These limits only apply to new graduate/professional students and those who do not qualify for the interim exception.
- General graduate students: $20,500 per year
- Professional students: $50,000 per year
The aggregate limit is capped at $100,000 for graduate students and $200,000 for Professional students and does not include amounts borrowed as an undergraduate. (Borrowers who are both graduate and professional students at some point in their educational careers may only borrow up to $200,000 in total for graduate and professional school).
The new loan limits also include a lifetime maximum of $257,500, which includes loans borrowed for undergraduate and graduate/professional degrees.
The Department of Education has identified those programs which qualify as professional degrees and allow students to borrow loans based on the professional degree limits. Definitions and a list of eligible professional degrees can be found here.
Please note: Loan Limits for certain newly classified professional programs are subject to change based on pending federal litigation regarding the new regulations. ODU will notify affected students immediately if the court ruling impacts these limits mid-year. ODU programs that may be impacted include:
- Clinical Psychology – PhD
- Speech Language Pathology – MS
- Physician Assistant – MPA
- Medical Science – DMSc
- Athletic Training – MSAT
- Occupational Therapy – OTD
- Physical Therapy – DPT
- Nursing – MSN
If you are starting a new program in August 2026, then you will not be able to borrow loans under the old rules. You will be held to the new rules on loan limits and will not be able to borrow Graduate PLUS Loans for your new program.
You may need to consider other loan options through private lenders if you need additional funding beyond the Federal Unsubsidized Loan limit. You may use any private lender you choose, and we strongly encourage you to do ample research to determine the best fit. Our website includes information on private loans, including considerations and best practices when choosing a lender and a list of our frequently used private lenders. Please note: You are not required to use a lender that is included in our frequently used private lender list, you can borrow from any private lender you choose.
Undergraduate Students and Parents
Maybe. Under the new rules, you cannot receive a Pell Grant if your total financial aid (including all scholarships, grants, and waivers) meets or exceeds your estimated cost of attendance (COA).
Parents of students who meet the criteria for the interim exception (legacy provision) may be eligible to continue borrowing under the old Parent PLUS Loan rules. Previously, there was no annual or aggregate (total) limit imposed on Parent PLUS Loans, but beginning with 2026-2027, students who do not qualify for the interim exception will be held to new annual and aggregate limits.
These limits only apply to parents of new undergraduate students and those who do not qualify for the interim exception.
- Annual Limit: $20,000
- Aggregate (total) Limit: $65,000
Please keep in mind that if a parent borrows the maximum annual limit ($20,000) each year, then they would have borrowed $60,000 by their student’s third year of school. If your student needs to enroll for a fourth (or more) year, you would only be able to borrow an additional $5,000 for that next year.
We encourage you to only request the loan amount needed to cover educational costs or otherwise spread your aggregate limit over the course of the number of years your student will need to complete their undergraduate degree.
If you are starting a new program in August 2026, then you will not be able to borrow loans under the old rules. You will be held to the new rules on loan limits.
You may need to consider other loan options through private lenders if you need additional funding beyond the Federal Subsidized/Unsubsidized and Parent PLUS Loan limits. Our website includes information on private loans, including considerations and best practices when choosing a lender and a list of our frequently used private lenders.
Repayment Questions
Changes have also been made to loan repayment to limit options to two new repayment plans for borrowers who receive a new loan after July 1, 2026. There is an extended standard repayment plan and a new plan based on income called the Repayment Assistance Plan (RAP).
Borrowers who do not receive new loans on or after July 1, 2026 can continue to repay their loans under previous loan repayment plans, but can opt into the new ones if they prefer.
Additional information on repayment plan changes can be found at StudentAid.gov