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We are writing to share important information about upcoming changes to the Federal Parent PLUS Loan program resulting from recently enacted federal legislation. While these changes will not take effect until July 1, 2026, we want to provide early notice so you can plan ahead and take steps to protect your current financial aid eligibility.
What This Means for Currently Enrolled Pace Students
If a student is currently enrolled at Pace University and has borrowed a federal student loan and/or is using a Federal Parent PLUS Loan, you will not be impacted by these changes for the next three years, provided the student maintains continuous enrollment.
To preserve current Parent PLUS Loan eligibility and lending terms, students must be enrolled in at least six credits in the Spring 2026 or Summer I 2026 term and must continue enrollment at Pace in at least six credits each fall and spring semester. This is particularly important for students who are considering a leave of absence or time away from their studies.
How the Parent PLUS Loan Terms Are Changing
Beginning July 1, 2026:
- Students and families who are “grandfathered in” under the current rules may continue borrowing up to the full cost of attendance, minus aid, for up to three years, as long as continuous enrollment is maintained.
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Students and parents who take out a federal student loan or Parent PLUS Loan for the first time on or after July 1, 2026, will be limited to $20,000 per year, with a lifetime maximum of $65,000.
Our goal in sharing this information now is to help you make informed decisions and remain an active part of the Pace Community without disruption to your educational plans.
To learn more about the One Big Beautiful Bill and the resulting federal policy changes, visit www.pace.edu/OBBBA. This site will be updated as new information becomes available.
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