Parent PLUS Caps At $20,000 A Year, Leaving Cosigners Fewer Options In Year 4

As of July 1, 2026, new Parent PLUS borrowers are capped at $20,000 per dependent student per year and $65,000 for that student's entire undergraduate career. Before this change, Parent PLUS went all the way up to the school's full certified cost of attendance.For families at expensive schools, that program was the entire plan. It closed whatever the aid package didn't, and it did so without much scrutiny. The problem you notice - $20,000 per year doesn’t translate to $65,000 if your child attends college for 4 or even 5 years… that’s a problem.In partnership with Student Choice, we’re going to break down what borrowing for college looks like, and why you may want to consider an education line of credit.