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.

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.

Federal Student Loans

• There is a $257,500 lifetime borrowing limit on all federal student loans, total. 

Graduate and Professional Student Loans

• Graduate Students: $20,500 annual; $100,000 aggregate

• Professional Students: $50,000 annual; 200,000 aggregate

• Graduate/Professional combined total: 200,000

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.