Table of Contents Expand Table of Contents Graduate students of all kinds will be affected, since the legislation eliminates their ability to take out Grad PLUS loans. In the 2024-25 award year, about 545,000 graduate students had a PLUS loan. Who Is Affected Students who have taken out a Grad PLUS loan before July 1, 2026, can still borrow PLUS loans for up to three more years, or until their program ends. The "One Big, Beautiful Bill" will make it harder for some graduate students to take out federal loan ...