The One Big Beautiful Bill Act (OB3 or OBBBA), signed into law on July 4, 2025, contains significant provisions that reshape student financial aid. Here are highlights to keep in mind as you create your financial plan for 2026-27 tuition expenses:
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- Parent PLUS loans
New Parent PLUS loans are limited to $20,000 per year per dependent student and a $65,000 aggregate limit per dependent student (without regard to amounts forgiven, repaid, canceled or discharged). These provisions are effective July 1, 2026, with legacy provisions* for current borrowers. - Graduate PLUS loans
The law eliminates the Graduate PLUS program, effective July 1, 2026, with legacy provisions** for current borrowers to complete their program of study. - Graduate loan limits
The law caps the annual graduate loan limits at $20,500 for graduate students and $50,000 for professional students. Per stipulations determined by the Department of Education, UTulsa has two degree programs classified as professional: Juris Doctor and Ph.D. in clinical psychology. The aggregate limit is capped at $100,000 for graduate students and $200,000 for professional students. - Lifetime borrowing cap on all federal loans
The law contains a $257,500 borrowing cap on all federal student loans, excluding borrowed Parent PLUS loan amounts. Legacy provisions*** may apply. - Annual, aggregate and lifetime loan limits effective date
Loan limits become effective on July 1, 2026, with a legacy provision included for current borrowers to borrow under current limits for the remainder of their expected time to credential.
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*Legacy provision for Federal Parent PLUS: If an undergraduate student has borrowed a federal loan or a parent has borrowed a federal parent loan before July 1, 2026, while the dependent student is enrolled in a credentialed program, the parent can continue to borrow under current loan limits for three academic years or the remainder of their dependent student’s expected time to credential, whichever is less.
**Legacy provision for Graduate PLUS: If a borrower has a Graduate PLUS loan made before July 1, 2026, while enrolled in a credentialed program, the borrower can continue to borrow from the program for three academic years or the remainder of their expected time to credential, whichever is less.
***Legacy provision on lifetime loan limits: If a borrower has a Federal Direct Loan made before July 1, 2026, while enrolled in a credentialed program, the borrower can continue to borrow under current loan limits for three academic years or the remainder of their expected time to credential which ever is less.
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Additional details are available via the National Association of Student Financial Aid Administrators' printable pdf.
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Need help or more information? Email UTulsa Student Financial Services at finaid@utulsa.edu.
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