Scheduled termination of Federal Direct PLUS Loans

Section 455(a) of the Higher Education Act of 1965 (20 U.S.C. 1087e) is amended by adding at the end the following: (4) Termination of authority to make Federal Direct PLUS loans (A) In general Subject to subparagraph (B) and notwithstanding any provision of this part or part B, no Federal Direct PLUS Loans may be made under this part for any period of instruction beginning on or after October 1, 2026. (B) Loans made before October 1, 2026 A borrower who has not received a Federal Direct PLUS Loan before the date of enactment of the Orderly Liquidation of the Department of Education Act and for whom a Federal Direct PLUS Loan is first disbursed for any period of instruction beginning on or after such date, but not later than October 1, 2026, may be eligible to receive Federal Direct PLUS Loans until the completion of the course of study for which such loan was first disbursed or September 30, 2030, whichever occurs first..