Important Notice: Upcoming Changes to US Direct Loans

As part of the “One Big Beautiful Bill Act,” US Direct Loans intends to prorate funding based on students' course load. Please note that this change is not yet in effect. Our office is closely monitoring the implementation timeline and will continue to provide updates as more information becomes available. If you have any questions or concerns, feel free to contact us at studentaid [at] mcgill.ca.

Upcoming Changes to US Federal Loans for the 2026-2027 academic year, starting July 1, 2026:

- Grad PLUS loans will be eliminated                                                                                                                                    - Graduate students may borrow up to $20,500 USD/year in Unsubsidized loans (lifetime limit: $100,000 USD)                                                                                                                                                                            - Professional students may borrow up to $50,000 USD/year (lifetime limit: $250,000 USD)              - Parent PLUS loans will be capped at $20,000 USD/year per dependent (lifetime limit: $65,000 USD)                                                                                                                                                                                                  - Part-time students will receive prorated loan amounts based on course load.

Further information will be provided by the U.S. Department of Education. Please check back for updates.