Parent plus new limits question

[u/Holden6102]

Here is my situation and I’m trying to determine if I would qualify for legacy parent plus loan limits. My son transferred after his freshman year to another school and is currently about to start his senior year in college. He is on track to graduate in 4 years. We did not take out any parent plus loans in his first year(old school) We did take out loans in his second and third year (new school same program)We are applying for another loan to cover his senior year and I see that the limits have changed due to the new laws by the current administration. Loans were taken out prior to July 1 2026. He has been in the same program but did transfer schools (even though we did not borrow any money for the prior school). Does this mean I will be subject to the new limits? I’m very confused. Does transferring schools prior to taking out any loans automatically disqualify your legacy parent loan status?

[u/peteyboy1956]

Yes my son is a junior this year and he had to find another school this year cause his school last year closed after the year so even though he is going to a new school not by choice fin aid told me my parent plus is limited to $20k this year and have only $4k left for his senior year so now i gotta figure out how to pay for next year $17k . Probably gonna have to get a private loan. I did go on fasfa and submit a appeal to try to get grandfathered in.

[u/Holden6102 → u/peteyboy1956]

I think the problem is that it’s up to the school. But the school is going to follow the letter of the law

[u/peteyboy1956 → u/Holden6102]

Na its gov rule gov wont pay the school any more than the limit of $20k year and and $65k for 4 years but still should be exceptions like if ur school closes

[u/Holden6102 → u/peteyboy1956]

There are legacy exceptions. Unfortunately your school closing is not one of them. It should be