PLUS Loans

Federal Direct PLUS Loans are credit-approved government loans available to eligible parents and graduate students. These loans are intended to help bridge the gap between the amount of financial aid students have been offered and their estimated Cost of Attendance.

Applying for a Parent PLUS Loan

  • Effective July 1, 2026 — New Borrowers
    For borrowers taking out a Parent PLUS loan on or after July 1, 2026, parents may borrow up to $20,000 per academic year per dependent student, subject to a maximum aggregate (lifetime) limit of $65,000 per dependent student under federal rules.
  • If a student or their parent borrowed for the student’s current program of study before July 1st, 2026, they may continue to borrow the Parent PLUS loan under the previous (higher) rules for up to three academic years or until the student completes their program, whichever comes first; new loans taken after that date must follow the new $20,000 annual and $65,000 aggregate limits.
  • You must be a dependent student enrolled in an undergraduate program.
  • You must file the FAFSA.
  • Your parent must apply for a PLUS Loan as a parent borrower.
  • Once the loan application is approved, your parent must complete a Master Promissory Note.

Applying for a Graduate PLUS Loan (Continuing Students)

  • Effective July 1, 2026 students who are new federal loan borrowers and begin graduate or professional programs on or after July 1st, 2026, will not be eligible for the Federal Graduate PLUS loan program.
  • You must be enrolled in a master's or PhD program.
  • You must file the FAFSA.
  • You must apply for a PLUS Loan as a graduate or professional student.
  • Once your loan application is approved, you must complete a Master Promissory Note.

For more information on borrowing eligibility and loan disbursement, speak with a financial aid counselor.

For information on federal loan interest rates, see studentaid.gov.

Contact Us

Office of Financial Aid
2 West 13th Street, 5th floor
New York, NY 10011
finaid@newschool.edu
212.229.8930

In-Person Office Hours
Monday–Friday, 10:00 a.m.–5:00 p.m.

Virtual Office Hours
Monday–Thursday, 10:00 a.m.–2:00 p.m.

To schedule time with a staff member, visit The New Queue.

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