51³Ô¹ÏÍø

Federal Student Aid Changes Starting 2026-2027

IMPORTANT UPDATE:
The One Big Beautiful Act (OBBB) was signed into law on July 4, 2025 and makes significant changes to federal financial aid programs, including new loan limits, new loan repayment options, and updated eligibility requirements, for both current and future students. .

Most changes take effect July 1, 2026 for the 2026-2027 academic year.
The information on this page reflects 51³Ô¹ÏÍø’s current understanding of these changes, as of January 2026. This page will be updated throughout the 2025-2026 academic year as the U.S. Department of Education issues implementing regulations and guidance.

If you have any questions about how these changes will impact your individual financial plan or circumstances for the upcoming year, please contact the Financial, Billing and Enrollment Center or make an appointment to discuss your questions. 

Undergraduate Student Changes

 

 

Loan Changes
  • For each dependent student, parents are Parent PLUS loan will be limited to $20,000 a year per student.
  • Parent PLUS loan borrowers will have a new overall borrowing limit of $65,000 per student.
  • Loan eligibility is impacted by enrollment intensity. Applies to all borrowers at all degree levels. Full-time students may borrow up to their full loan eligibility, but any students enrolled less than full time will have loans reduced based on their percentage of enrollment. Full-time for undergraduate students is defined as 12 credit hours or more per semester. 
Pell Grant Changes
  • Students with an SAI that is equal to or greater than twice the amount of the maximum Pell Grant award will no longer be eligible for the Pell Grant during that academic year.
  • Students who receive scholarships or grants that cover their total cost of attendance (COA) will lose their Pell grant eligibility for that academic year.
FAFSA Changes
  • Family-owned small business/farm assets do not need to be reported on the 2026-2027 FAFSA.
  • Foreign income will be included in the adjusted gross income (AGI) when determining Pell grant eligibility.

Graduate/Professional Student Changes

 

 

Loan Changes
  • The Graduate PLUS loan has been eliminated and will no longer be available to new graduate degree students and new Direct Loan borrowers beginning in 2026-2027.
  • Direct Unsubsidized borrowing limits remain $20,500 annually with a maximum of $100,000 per non-professional student (previously $138,500).
  • Direct Unsubsidized borrowing limits will be $50,000 annually with a maximum of $200,000 per professional student. Professional programs at 51³Ô¹ÏÍø are defined as follows by the Department of Education:
    • Podiatry at the College of Podiatric Medicine
    • Clinical Psychology (Psy.D. or Ph.D.)
  • Loan eligibility is impacted by enrollment intensity: Direct student loan offers will be prorated for all students, including graduate students, who are enrolled less than full time. Full time for graduate students is defined as 8 credit hours or more per semester.
  • The maximum lifetime aggregate per student borrower will be $257,500.

Borrowers who have received a loan for a program that has already started as of June 30, 2026, will be exempt from the above borrowing caps for up to three years as they complete their program. 

Available 51³Ô¹ÏÍø Resources

 
  • The Financial Billing and Enrollment Center at 51³Ô¹ÏÍø assists students with Walk-in services are available. Contact the FBEC  if you have questions about applying for financial aid. Virtual and in-person options are available.  
  • ScholarshipUniverse is the Centralized Academic Scholarship Hub offering one place for current and continuing students to apply for university scholarships. ScholarshipUniverse is open to all admitted and enrolled students.
  • : Allows undergraduate, graduate, and professional students to research and compare high-quality private education lenders that other students have used successfully. Students are welcome to use lenders not included on this list. The ElmSelect lender list is reviewed and subject to change annually.
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