This information is based on Federal Student Aid's Loan Limits Exception definition as of May 2026.

You may qualify under the limited exception only if you

• were enrolled in a program of study at an institution as of June 30, 2026; and
• received at least one Direct Loan for such program of study prior to July 1, 2026; and
• are currently enrolled at the same institution in the same program of study and have not ceased to be enrolled in the same program at the same institution at any point on or after July 1, 2026. (An approved leave of absence is not considered to be a break in enrollment.)

NOTE: Undergraduate students can change majors but cannot change credential level (associates/bachelor). The student must meet the limited exception eligibility criteria in order for the parent to borrow the Parent PLUS Loan under the limited exception loan limits.

If you do not meet the limited exception eligibility criteria, then the new loan limits will apply to you starting on July 1, 2026. 

If you meet the limited exception eligibility criteria, you’ll be exempt from certain loan limits and loan eligibility changes for the lesser of

• three academic years or
• the difference between the published length of your program of study and the period of time you have completed in that program. (For Parent PLUS Loans, this applies to the child on whose behalf you are borrowing.)

Once you no longer meet the limited exception eligibility criteria, the new loan limits will apply to you. 

Federal Student Aid's Borrower Scenarios page illustrates the effects of OB3's federal loan changes to help undergraduate, graduate, professional, and parent borrowers determine who is considered a new borrower and who can qualify for a limited exception.  Federal Student Aid also outlines definitions of important terms and concepts.

The loan limits below are based on Federal Student Aid's Loan Limits information as of May 2026.  

The loan limits below are based on Federal Student Aid's Loan Limits information as of May 2026. Read Federal Student Aid's Professional Students definition to learn which programs are considered Professional vs Graduate.

The loan limits below are based on Federal Student Aid's Loan Limits information as of May 2026. Read Federal Student Aid's Professional Students definition to learn which programs are considered Professional vs Graduate.

Borrowers apply for the PLUS Loan directly through the Department of Education. The credit decision is determined solely by the Department of Education, is displayed to borrowers during the application process, and is valid for 180 days.

In addition to completing the FAFSA, all of the following must be completed.

• PLUS Loan Application for Parents
• PLUS Master Promissory Note for Parents (Must use your own FSA ID to login, not your student's)
• Title IV Authorization Form to instruct Brown University on how to apply your federal funds toward charges on your student's account. This MUST be completed by the PLUS Loan borrower.
• Parents who are initially denied and later approved, must also complete the PLUS Loan Credit Counseling.

PLUS application tips:

• Estimate your child's annual education expenses using our Tuition & Fees pages.  
• Increases to existing PLUS Loans may require a new credit check.
• The Origination Fee is deducted from each loan disbursement. You may wish to factor the origination fee in when determining how much to borrow. (Example: To receive $10,000 and include the 1.057% origination fee; calculate $10,000 x 0.01057 = $105.70.  Request a total loan amount of $10,105.70.)

Your completed PLUS Application and completed loan requirements will be sent electronically from the U.S. Department of Education to Brown's Student Financial Services.

Borrowers apply for the PLUS Loan directly through the Department of Education. The credit decision is determined solely by the Department of Education, is displayed to borrowers during the application process, and is valid for 180 days.

In addition to completing the FAFSA, all of the following must be completed.

• The Unsubsidized Loan must be offered and you must accept it through Banner Self Service before your PLUS Loan Application will be processed.
• PLUS Loan Application for Graduate/Professional Students
• Grad PLUS Master Promissory Note
• Grad PLUS Entrance Counseling
• Title IV Authorization Form - complete in Banner Self Service to instruct Brown University on how to apply your federal funds toward your student account charges.
• Students who are initially denied and later approved, must also complete the PLUS Loan Credit Counseling.

PLUS application tips:

• Estimate your annual education expenses using our Tuition & Fees pages.  
• Increases to existing PLUS Loans may require a new credit check.
• The Origination Fee is deducted from each loan disbursement. You may wish to factor the origination fee in when determining how much to borrow. (Example: To receive $10,000 and include the 1.057% origination fee; calculate $10,000 x 0.01057 = $105.70.  Request a total loan amount of $10,105.70.)

Your completed PLUS Application and completed loan requirements will be sent electronically from the U.S. Department of Education to Brown's Student Financial Services.

The Department of Education completes a credit check and displays the credit decision (approval or denial) to the applicant during the PLUS Loan application process.  The Department of Education transmits only the credit decision to Student Financial Services; no other information about the applicant's credit history or reason for the credit decision is shared.

If you receive a credit decision denial, you may be able to receive a PLUS Loan by getting and endorser (co-signer) or by submitting an appeal to the Department of Education. Read this Federal Student Aid article on what to do if you're denied based on adverse credit history.

• Endorser: Must not have an adverse credit history and must agree to repay the PLUS Loan if you do not repay it. Your endorser will be required to complete the Endorser Addendum to Master Promissory Note.
• Appeal: Submitting documentation to the U.S. Department of Education that there are extenuating circumstances relating to your adverse credit history.
• Credit Counseling: With either option, you must also complete PLUS Loan Credit Counseling which is separate from and in addition to all other counseling requirements. 

Parents: If you receive a credit denial for a Parent PLUS loan, your dependent child may be eligible for additional Unsubsidized Loans. Contact the Office of Financial Aid for more information.