COMPANY ANNOUNCEMENT · July 16, 2026
Grad PLUS Is Gone: LoanAmerica Statement on the OBBBA Taking Effect
The federal programs that covered the gap between financial aid and the real cost of education are gone or capped as of July 1. LoanAmerica was rebuilt for this moment.
LAS VEGAS, July 16, 2026 · As of July 1, the One Big Beautiful Bill Act's student lending provisions are in effect. The Grad PLUS program is eliminated for new borrowers. Parent PLUS borrowing is capped at $20,000 per year with a $65,000 lifetime limit per student. Graduate students retain Direct Unsubsidized Loans up to $20,500 per year, and professional students up to $50,000 per year.
For hundreds of thousands of families, those programs were how the gap between financial aid and the actual cost of attendance got closed. That gap does not disappear with the programs. It moves to private lending, institutional aid, or it forces students out of programs they have already started.
LoanAmerica re-entered active student lending for this moment: private loans for undergraduate, graduate, vocational, and trade programs, reviewing every credit profile, in partnership with schools.
"We have been here before. We didn't chase this opportunity, it came back to us."
About LoanAmerica
LoanAmerica® is a private student lending company serving undergraduate, graduate, vocational, and trade-school programs. Founded in 1997 with more than $20 billion in loan originations across three decades, LoanAmerica re-entered active student lending in 2026 as the One Big Beautiful Bill Act reshaped federal student aid.
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