Student Loans — 2026–2027

Direct Subsidized Loans are available to eligible undergraduate students with financial need. Graduate and professional students are not eligible for new subsidized loans. For loans first disbursed in 2026–2027, the government generally pays the interest while you attend at least half-time, during the six-month grace period and during qualifying deferment.

Direct Unsubsidized Loans are available to eligible undergraduate, graduate and professional students. Financial need is not required. Interest accrues from disbursement, including during school, grace and deferment periods. You are responsible for this interest.

Lincoln determines your eligibility and loan amount using federal requirements, your cost of attendance, other aid and borrowing history. Compare subsidized and unsubsidized loans.

These are maximum annual amounts before applicable reductions. The subsidized portion is included in the combined total.

Dependent undergraduates

Aggregate limit: $31,000, including no more than $23,000 subsidized.

Independent undergraduates

Aggregate limit: $57,500, including no more than $23,000 subsidized.

Certain dependent students whose parents cannot obtain a Parent PLUS Loan may qualify for the higher unsubsidized limits. Reaching a Parent PLUS borrowing cap does not by itself qualify a student for additional unsubsidized loans.

Your actual offer may be lower. For 2026–2027, less-than-full-time enrollment can reduce annual eligibility under federal rules. Proration also applies to certain short undergraduate programs and final periods shorter than an academic year. If you do not qualify for subsidized funds, you may receive unsubsidized funds within the combined limit if otherwise eligible. Review federal loan limits.

Limits for periods beginning July 1, 2026

Unless you qualify for the continuing-borrower exception below, Direct Unsubsidized Loan limits are:

• Graduate students: $20,500 annually; generally a $100,000 graduate aggregate limit if you have never been a professional student.
• Eligible professional students: $50,000 annually and a $200,000 combined graduate/professional aggregate limit.

For graduate students with prior professional study, the graduate aggregate limit is $200,000 minus amounts borrowed as a professional student. For professional students, prior graduate borrowing reduces the $200,000 limit. Undergraduate loans are excluded from these graduate/professional aggregates; previous graduate/professional subsidized and unsubsidized loans count. Program classification and prior borrowing determine the applicable limit. Less-than-full-time enrollment can reduce annual eligibility.

A separate $257,500 lifetime maximum generally counts federal student loans, including undergraduate and Graduate PLUS borrowing, but excludes loans borrowed as a parent for a dependent student. Repayment or forgiveness does not restore this lifetime borrowing capacity.

Limited continuing-borrower exception

Graduate PLUS is no longer generally available for periods beginning July 1, 2026. An exception may apply if you were enrolled in the program on June 30, 2026, and received a Direct Loan for that program before July 1, 2026.

Eligible continuing borrowers generally retain the previous $20,500 annual unsubsidized limit, $138,500 subsidized/unsubsidized aggregate including undergraduate loans, and Graduate PLUS up to cost of attendance minus other aid. Certain qualifying health-profession borrowers have different legacy limits. The new lifetime maximum does not apply during the exception.

The exception lasts for the shorter of three academic years or the federally determined remaining program period. Withdrawal or otherwise ceasing enrollment in the qualifying program can end it. Contact Student Financial Services to review your program, loan history and remaining eligibility.

Before awarding an eligible Graduate PLUS Loan, Lincoln must determine your unsubsidized eligibility; you do not have to borrow the maximum unsubsidized amount. Read current Graduate PLUS information.

Parent PLUS Loans are made to eligible parents of dependent undergraduate students enrolled at least half-time. The parent is responsible for repayment and must meet federal eligibility and credit requirements. The student must complete the FAFSA.

For periods beginning July 1, 2026, parents subject to the new limits may borrow up to $20,000 annually per dependent student, with a $65,000 aggregate limit per student shared across parent borrowers. Borrowing also cannot exceed cost of attendance minus other financial assistance. Repayment or forgiveness does not replenish the aggregate limit.

A limited exception may preserve the previous cost-of-attendance-based limit if the student was enrolled in the program on June 30, 2026, and the student or a parent received a qualifying Direct Loan for that program before July 1, 2026. It lasts for the shorter of three academic years or the federally determined remaining program period; withdrawal or ceasing enrollment can end it. Student Financial Services must determine eligibility.

Parents complete the applicable PLUS application and MPN. Borrowers approved despite adverse credit through an endorser or documented extenuating circumstances must also complete PLUS credit counseling.

Review Parent PLUS eligibility and application information.

For loans first disbursed July 1, 2026, through June 30, 2027:

Each loan’s rate is fixed for its life. Loans first disbursed outside this period may have different rates.

For first disbursements on or after October 1, 2020, and before October 1, 2027, fees are 1.057% for subsidized/unsubsidized loans and 4.228% for PLUS loans. Fees are deducted proportionally from disbursements. You receive less than the amount borrowed but must repay the full principal.

Federal interest-rate announcement | Federal loan-fee announcement

1. Complete the 2026–2027 FAFSA and provide any documents requested by Student Financial Services.
2. Review your financial aid offer and missing documents in Blue Tiger Self-Service.
3. To request or accept an offered student loan, complete the 2026–2027 Loan Change Request Form on Lincoln’s Financial Aid Forms page. Lincoln requires this form for both new/readmitted and returning student borrowers. Follow its signature and submission instructions.
4. New or readmitted Lincoln borrowers should also review Lincoln’s entrance counseling and MPN instructions. Complete entrance counseling when required and have a valid Master Promissory Note (MPN) on file before disbursement. An MPN is your agreement to repay; a new MPN is not automatically required every year.

Federal entrance counseling applies to first-time student Direct Loan borrowers and certain first-time Graduate PLUS borrowers. Parent PLUS borrowers do not complete ordinary student entrance counseling; separate PLUS credit counseling may apply.

Parent PLUS applicants must complete the parent application using their own StudentAid.gov account. A PLUS adjustment form does not replace the initial application.

Submit requests promptly and contact Student Financial Services about the deadline for your enrollment period, summer borrowing or courses with different start and end dates. Completing a form does not guarantee approval or a particular disbursement date.

Lincoln’s 2026–2027 loan disbursement schedule (PDF) lists anticipated dates for academic-year, fall-only and spring-only loans. These are estimates, not guarantees. Your eligibility, enrollment and completion of loan requirements affect when funds can be released. Contact Student Financial Services about summer or other loan periods.

Lincoln’s published schedule provides two disbursements for a loan period. Academic-year loans have a fall and a spring disbursement; a single-semester loan has two disbursements within that semester.

If you are both a first-year undergraduate and a first-time federal student loan borrower, your first Direct Subsidized/Unsubsidized disbursement is generally delayed until 30 days after your program begins, unless a federal exception applies. Merely being new to Lincoln does not establish this federal delay requirement.

Loan funds are credited to your student account for allowable charges. A Title IV credit balance occurs when federal aid credited to your account exceeds allowable charges. Unless a permitted authorization to hold funds applies, Lincoln must pay the credit balance within 14 days after it occurs, or within 14 days after the first day of class if it occurs on or before that day. A Parent PLUS credit balance is paid to the parent unless the parent authorizes payment to the student.

Review your account in Blue Tiger Self-Service and contact Student Financial Services with questions.

You may request less than the amount offered or cancel all or part of a loan. Use the 2026–2027 Loan Change Request Form on the Financial Aid Forms page to request a student loan reduction or cancellation. For a Parent PLUS adjustment, the parent borrower completes the PLUS Loan Change Request Form. Follow the applicable form’s instructions carefully when specifying the amount and term.

Submit a signed request to Student Financial Services promptly. Lincoln’s loan disbursement notice explains your cancellation right, how to exercise it and the applicable deadline. Contact the office if you do not have the notice or its deadline has passed.

You may also return all or part of a Direct Loan disbursement within 120 days of that disbursement. Contact your loan servicer for return instructions and to have the corresponding interest and loan fee adjusted. Reducing or returning a loan can leave a balance due to Lincoln.

Complete exit counseling when you graduate, leave school or drop below half-time if you borrowed student Direct Loans. Keep your contact information current with Lincoln and your loan servicer.

Direct Subsidized and Unsubsidized Loans generally have a six-month grace period after you leave school or fall below half-time before repayment begins. A loan whose grace period has already been used may enter repayment sooner.

PLUS repayment begins when the loan is fully disbursed; the first payment is generally due within 60 days unless deferred. Eligible Graduate PLUS borrowers generally receive in-school deferment while enrolled at least half-time and a six-month post-enrollment deferment. Parent PLUS borrowers may request corresponding deferments while the student is at least half-time and for six months afterward. Interest continues to accrue on PLUS Loans during deferment.

Available repayment plans depend on loan type and borrowing dates. For loans subject to the new rules beginning July 1, 2026, options include the Tiered Standard plan with a 10-, 15-, 20- or 25-year term based on debt, and the Repayment Assistance Plan for eligible student loans. Parent PLUS Loans are not eligible for the Repayment Assistance Plan. Ask your servicer which plans apply to your loans.

Repayment example: A $10,000 balance at 6.52% repaid in 120 equal monthly payments would cost approximately $113.65 per month and $13,638 total, including about $3,638 in interest. This illustration assumes no additional interest before repayment, no fees added to the balance and on-time payments. Your actual schedule may differ. Use Loan Simulator to compare options.

If you have difficulty paying, contact your servicer promptly about repayment options, deferment or forbearance. Do not stop paying until an arrangement is approved. Delinquency and default have serious consequences, including possible loss of aid eligibility. Get help with a defaulted loan.