Undergraduate students
Federal loan program
- Loan proration: Requires institutions to prorate annual loan amounts in direct proportion to the percent of full-time status the student is enrolled. Full time undergraduate enrollment at Augsburg is defined as 12 credits or more.
Parent PLUS annual and aggregate loan limits
- Change: All parents (combined) may borrow $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). Effective July 1, 2026.
- Legacy provision: If a borrower has a Federal Direct Loan made 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.
Graduate students
Graduate PLUS loan program
- Effective July 1, 2026 the Graduate PLUS loan program will be eliminated.
- Legacy provision: If a borrower has a Federal Direct Loan made before July 1, 2026, while enrolled in a credentialed program, the borrower can borrow from the GradPLUS program for three academic years or the remainder of their expected time to credential, whichever is less. Effective July 1, 2026.
Graduate/Professional annual and aggregate loan limits
- Change: Caps the annual loan limits at $20,500 for graduate students and $50,000 for professional students.
- The definition for what is considered a professional program and thus eligible for higher loan limits is also changing. Beginning July 1, 2026, the only Augsburg program that will be considered a professional program for loan limit purposes is the following:
- Doctor of Clinical Psychology (PsyD)
- The definition for what is considered a professional program and thus eligible for higher loan limits is also changing. Beginning July 1, 2026, the only Augsburg program that will be considered a professional program for loan limit purposes is the following:
- The aggregate limit is capped at $100,000 for graduate students and $200,000 for professional students, and does not include amounts borrowed as an undergraduate. The lifetime borrowing limit for all federal student loans is $257,500, excluding borrowed Parent PLUS loan amounts. Effective July 1, 2026.
- Legacy provision: 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, whichever is less.
- Loan proration: Requires institutions to prorate annual loan amounts in direct proportion to the percent of full-time status the student is enrolled. Full time enrollment for graduate programs at Augsburg is defined as 6 credits or more.
*Please note that this is the best information we have right now. Once the U.S. Department of Education (ED) publishes final rules, this information may change.
We encourage you to make an appointment with Student Financial Services to go over your specific situation.