Parent PLUS loans at Baylor University: cost vs the 2026 caps

The Baylor funding gap under the 2026 caps

Baylor University is a private university in Waco, TX with about 14,785 degree-seeking undergraduates. At $78,816 a year, the student’s $5,500 Direct Loan and the $20,000 Parent PLUS maximum leave $53,316 of the first year uncovered before grants and scholarships, and $223,264 over four years.

Borrowing the maximum each year uses up the $65,000 Parent PLUS limit in year 4. Only $5,000 of Parent PLUS is left for the final year, so the year-4 gap of $66,316 is the largest of the four.

Gap = cost of attendance − the student’s maximum dependent Direct Loan ($5,500, $6,500, $7,500, $7,500) − the most Parent PLUS allowed ($20,000 a year, $65,000 in total, never more than cost minus other aid). Grants, scholarships, savings and work are not subtracted. Costs for 2026–27 and later will likely be higher than 2024–25.

What Baylor costs

College Scorecard reports an average cost of attendance of $78,816 for 2024–25. That figure covers tuition and fees, books and supplies, housing, food and other living costs, averaged across students living on campus, off campus and with family. The school’s published components for 2025–26 were:

Adding the 2025–26 components gives $85,734 for a student living on campus, $6,918 more than the 2024–25 average. Your aid offer will use the school’s own budget for your year and housing choice.

After grants: the average net price

Most students at Baylor University do not pay the full cost. In 2024–25, first-time, full-time students who received federal aid paid an average net price of $44,441 a year after grants and scholarships. That is about $34,375 less than the 2024–25 cost of attendance, which is roughly what grant aid was worth to the average aided student.

Even at that average net price, federal loans fall $18,941 short in the first year and $85,764 short over four years if the price stays flat. Average figures hide a wide spread, so the net price for your family can be much higher or lower.

Income groups include only students who received federal aid. Families with higher incomes who did not apply for or receive aid typically pay closer to the full cost of attendance. “Gap” assumes the student borrows the maximum Direct Loan and parents borrow the most Parent PLUS allowed.

What Parent PLUS costs to borrow

Parent PLUS loans first disbursed between July 1, 2026 and June 30, 2027 carry a fixed 9.07% rate, and a 4.228% origination fee comes out of each disbursement. A $20,000 loan sends $19,154.40 to Baylor, so the fee adds $845.60 a year to the gap when you are already at the cap. Borrowing the $65,000 maximum shown above costs about $588 a month over 20 years under the Tiered Standard plan, if Parent PLUS is your only federal loan and you start repaying right away. Run the repayment estimate.

Already enrolled before July 2026?

The caps may not apply yet. If the student was enrolled at Baylor on June 30, 2026 and a federal Direct Loan (the student’s own or a Parent PLUS) was disbursed for that program before July 1, 2026, parents can keep borrowing up to cost of attendance minus aid for up to three academic years. Those loans still count toward $65,000 afterward. Check with the legacy provision checker.

Ways to close a gap at Baylor

• Grants and scholarships first. File the FAFSA and any institutional aid form the school requires and use Baylor’s net price calculator to estimate your own price before comparing loans.
• Payment plans, savings and student work reduce what has to be borrowed. See seven ways to cover a college funding gap.
• Private loans, last. If a gap remains after Parent PLUS, compare a private parent loan or a cosigned student loan carefully. See Parent PLUS vs private parent loans.
• Know the rules. The full limits, including what counts toward $65,000, are on the Parent PLUS loan limits 2026–27 page.

Run your own numbers

• Open the gap calculator with Baylor’s 2024–25 cost ($78,816) and no grants
• Same cost with the average grant aid for aided students ($34,375)
• Baylor’s net price calculator (link as reported to the Education Department) estimates your family’s price after grants.
• The Baylor website publishes the current year’s official cost of attendance; your aid offer will use that budget.

The calculator starts from these figures; replace them with the numbers on your financial aid offer. By default it raises the cost 3% a year and subtracts the 4.228% origination fee, so its totals run a little higher than the flat examples on this page.

Compare: Rice University ($87,824), Southern Methodist University ($88,892), Texas A&M University ($32,796), Texas Christian University ($83,017), Lehigh University ($84,497), or see all 80 colleges.