Graduate and professional student loan limits calculator

New graduate loan limits from July 1, 2026

Before July 1, 2026, graduate students could borrow $20,500 a year in Unsubsidized Loans (with a $138,500 aggregate including undergraduate loans) plus Grad PLUS up to the full cost of attendance. For new borrowers the Grad PLUS backstop is gone.

Who counts as a professional student

The higher $50,000 and $200,000 limits apply only to programs that award a professional degree, defined in 34 CFR 685.102(b). The degree must generally be doctoral level, require at least six years of postsecondary study including two post-baccalaureate years, and usually require a license. The final rule lists these fields: pharmacy (Pharm.D.), dentistry (D.D.S. or D.M.D.), veterinary medicine (D.V.M.), chiropractic, law (J.D. or LL.B.), medicine (M.D.), optometry (O.D.), osteopathic medicine (D.O.), podiatry, theology (M.Div. or M.H.L.) and clinical psychology (Psy.D. or Ph.D.). Most other graduate programs, including master’s degrees, MBAs and many health programs outside this list, use the $20,500 and $100,000 graduate limits. Ask your school how it classifies your program.

Aggregate vs lifetime limits

The graduate aggregate counts the Subsidized and Unsubsidized Loans you borrowed as a graduate student, not undergraduate loans or Grad PLUS. The Department notes that if you repay some of that debt, room under the aggregate opens up again. The $257,500 lifetime limit is different. It counts all federal student loans you ever borrowed, including undergraduate loans and Grad PLUS, “without regard to any amounts repaid, forgiven, canceled or otherwise discharged.” Repaying does not restore it.

The graduate legacy rule

If you were enrolled in your graduate or professional program on June 30, 2026 and received any Direct Loan for that program before July 1, 2026, you keep the old limits for the lesser of three academic years or the rest of your program: $20,500 a year in Unsubsidized Loans plus Grad PLUS up to cost of attendance, with no lifetime limit during that time. A Grad PLUS loan before July 2026 is not required; any Direct Loan for the program counts. You cannot opt out to take the new $50,000 professional limit instead.

When the legacy period ends, the lifetime limit applies, and Grad PLUS borrowed during the legacy years counts toward it. A student who borrows heavily in Grad PLUS for three legacy years can reach $257,500 and have no federal eligibility left for a fourth year.

Worked examples

Two-year master’s program starting fall 2027

Cost of attendance is $60,000 a year and the student has $5,000 in scholarships. Federal Unsubsidized Loans cover $20,500 a year, or $40,566 over two years after the 1.057% fee. That leaves a gap of about $69,434 to fund through savings, assistantships, an employer or private loans.

Four-year medical program starting fall 2027

Cost of attendance is $90,000 a year with $10,000 in grants. As a professional student, she can borrow $50,000 a year, reaching the $200,000 aggregate exactly in year four. About $122,116 of the $320,000 she needs is not covered by federal loans. With $27,000 of undergraduate loans, her lifetime total is $227,000.

Law student under the legacy rule

A law student finished his first year in May 2026 with Unsubsidized and Grad PLUS loans. His expected time to credential is two years, so for 2026–27 and 2027–28 he can borrow $20,500 a year in Unsubsidized Loans plus Grad PLUS up to cost of attendance, as before.

Less than full time

Starting in 2026–27, students enrolled less than full time have their Direct Loan amount reduced in proportion to their enrollment, under 34 CFR 685.203(m). This applies to legacy borrowers too. The calculator assumes full-time enrollment.