One Big Beautiful Bill Act Quick Facts

Under the new rules, students will not qualify for a Pell Grant if their combined financial aid package equals or exceeds the total cost of attendance.

Students will not qualify for a Pell Grant if their Student Aid Index (SAI) is equal to or greater than twice the maximum Pell Grant award.

• The current Pell Grant maximum is $7,395. The SAI threshold would be $14,790.

Beginning July 1, 2026, Graduate PLUS loans will be discontinued for new borrowers.

• Students who received a Graduate PLUS loan prior to July 1, 2026, while enrolled in a qualifying program may continue to borrow under the previous loan limits for a maximum of three academic years or until program completion, whichever occurs first. If the student has an enrollment change or changes programs, it may affect the legacy provision.

• An approved Graduate PLUS Application from studentaid.gov does not mean that a student is eligible to receive the loan. The Office of Student Financial Aid and Scholarships will make the final determination. 

Starting July 1, 2026, loan limits will be adjusted based on a student’s enrollment level, similar to grant funding rules.

Students attending less than full-time will only be able to borrow a portion of the annual loan amount, and must be enrolled at least half-time to qualify.

Students who fail to complete the same number of credits that was used to calculate their eligibility may have their remaining annual eligibility adjusted.

• Undergraduate Students

  • There are no changes to undergraduate student borrowing limits.

  • Dependent students can borrow up to $31,000 while independent students can borrow up to $57,500.

• Graduate Students

  • $20,500 annual (fall, spring, and summer) limit.

  • $100,000 aggregate limit at the graduate level (does not include amounts borrowed as an undergraduate).

• Professional Students

  • $50,000 annual (fall, spring, and summer) limit.

  • $200,000 aggregate limit at the professional level.

• Lifetime Aggregate Federal Student Loan Limits

  • There is a $257,500 lifetime borrowing limit on all federal student loans, total. Amounts repaid, forgiven, and discharged still count toward this lifetime borrowing limit. 

• Cost of Attendance

  • Students cannot borrow more than their estimated Cost of Attendance (COA).

Parent PLUS loans will be capped at $20,000 per year with a $65,000 aggregate limit. 

• These limits apply per dependent student, meaning parents may borrow up to the maximum allowed amount for each eligible student they support. The number of parent borrowers does not increase the borrowing limits, as the caps are tied to the student rather than the individual borrower. For example, if a student has two parents who wish to borrow on their behalf, the combined total may not exceed $20,000 per year or $65,000 in total.

• An approved Parent PLUS Application from studentaid.gov does not mean that a student is eligible to receive the loan or that the parent is eligible to borrow it. The Office of Student Financial Aid and Scholarships will make the final determination.