ÌÇÐÄvlog¶ÌÊÓƵ

What has changed?

• The Graduate PLUS Loan program will be eliminated for new borrowers effective July 1, 2026.

Legacy provision:

• Students who have borrowed any Federal Direct Loan (Unsubsidized or Graduate PLUS) in their current Graduate program prior to July 1, 2026 may continue to apply for and borrow Graduate PLUS Loans up to their cost of attendance (minus all other aid).
• Valid for up to 3 academic years or until degree completion, whichever comes first.
• Must remain continuously enrolled Fall/Spring in a minimum of 6 credits per semester, at ÌÇÐÄvlog¶ÌÊÓƵ. A leave of absence will end this eligibility.

What has changed?

• Per student aggregate limit of $65,000
• Eligible parents may borrow a maximum of $20,000 per aid year.
  • Parents who borrow more than $16,250 per aid year may have limited remaining eligibility available for their student's 4th year.
• Effective July 1, 2026

Legacy provision:

• Students who have borrowed any Federal Direct Loan (Subsidized, Unsubsidized) or parents who borrowed a Federal Parent PLUS loan (for this student) before July 1, 2026 may continue applying for and borrowing these loans up to the student's cost of attendance (minus all other aid).
• Valid for up to 3 academic years or until degree completion, whichever comes first.
• Must remain continuously enrolled Fall/Spring in a minimum of 6 credits per semester, at ÌÇÐÄvlog¶ÌÊÓƵ. A leave of absence will end this eligibility.

What has changed?

• Graduate students may borrow a maximum of $20,500 per year in Direct Unsubsidized Loans.
  • Lifetime aggregate limit of $100,000.
• Professional students may borrow a maximum of $50,000 per year in Direct Unsubsidized Loans.
  • Lifetime aggregate limit of $200,000.
  • A professional student is enrolled in a program that leads to a professional degree, typically at the doctoral level, and prepares students for licensed practice in a specific profession.
• Undergraduate loans do not count towards the Graduate aggregate limits.
• Effective July 1, 2026.

Legacy provision:

• Students who borrowed a Federal Direct Loan before July 1, 2026, may continue to borrow up to their cost of attendance (minus all other aid).
• Valid for up to 3 academic years or until degree completion, whichever comes first.
• Must remain continuously enrolled Fall/Spring in a minimum of 6 credits per semester, at ÌÇÐÄvlog¶ÌÊÓƵ. A leave of absence will end this eligibility.

What has changed?

• Institutions must prorate annual loan eligibility based on a student's enrollment level.
• If a student is enrolled half-time, they would only be eligible for 50% of their annual loan eligibility.
• Effective for all loans disbursed for the 2026-2027 award year.

What does this mean?

• Federal loans are now treated as annual loans tied to enrollment for the full academic year.
• Loans for standard academic year enrollment (Fall and Spring) must be split evenly across both terms.
• No more than 50% of a student's annual loan eligibility may be disbursed for a single term.
• If enrollment changes mid-year, remaining loan disbursements must be adjusted in the following semester to reflect the updated academic year enrollment.
  • Undergraduate students who are enrolled in less than 24 credits Fall/Spring combined will have their loans adjusted in the 2nd semester.

What has changed?

• Family-owned assets, such as small business and primary-residence farms, are excluded from Student Aid Index (SAI) calculations.

What does this mean?

• SAI is a number calculated from information provided on the Free Application for Federal Student Aid (FAFSA) that determines aid eligibility.
• A lower SAI means higher financial need.
• Excluding these assets could increase a student's aid eligibility.

What has changed?

• Students who receive grants or scholarships from non-federal sources that covers their full cost of attendance are ineligible to receive a Pell Grant.
• Students are no longer eligible for Pell Grant when a student's SAI equals or exceeds twice the maximum Pell award.

What does this mean?

• The maximum Pell grant for the 2026-2027 academic year is currently set at $7,395.
  • Students with an SAI greater than or equal to 14,790 are ineligible.

What has changed?

• Borrowers who borrow new loans on or after July 1, 2026, will have 2 repayment plan options:
  • The Standard Repayment Plan or the Repayment Assistance Plan (RAP).
  • If no plan is chosen, borrowers will be placed in the Standard Repayment Plan automatically.

What does this mean?

• All loans must be repaid under the same repayment plan.
• Borrowers with loans borrowed prior to July 1, 2026, who borrow again after that date, will be limited to the new Standard Repayment Plan or RAP.
• Standard Repayment Plans have fixed payments that can span 10-25 years.
• RAP is income-based with forgiveness after longer terms.

What has changed?

• Borrowers who do not take out new loans on or after July 1, 2026, may continue using current repayment plans.
• Students may remain in or switch between existing income-driven plans through July 1, 2028.

What does this mean?

• Borrowers currently enrolled in the Income Contingent Repayment (ICR), Pay As You Earn (PAYE), or Savings on a Valuable Education (SAVE) plan must choose a new repayment plan (either Standard or RAP) by July 1, 2028.
• If no choice is made, borrowers will automatically be placed in RAP.

What has changed?

• Economic hardship and unemployment deferments will no longer be available.
• Effective July 1, 2027.

What does this mean?

• Borrowers with loans borrowed on or before July 1, 2027 may continue to use these deferment options under the current rules.
• Once those loans are paid off, these deferments will no longer be available.