�鶹��ý

New students enrolling and receiving their first federal Direct loan for their current program on or after July 1, 2026

If you are a new undergraduate student whose federal Direct loans are first disbursed on or after July 1, 2026, the new OB3 rules apply to you.

Current undergraduate students

If you borrowed a federal Direct Loan for your current program at the University before July 1, 2026, and remain continuously enrolled in the same credential level at the �鶹��ý, you may be eligible to continue borrowing under the prior loan limits for up to three additional academic years or your remaining time to complete your credential, as defined by the University whichever comes first.

Beginning July 1, 2026, Grad PLUS loans are no longer available.����Because most �鶹��ý graduate programs have tuition costs that do not exceed the new $20,500 annual limit, many borrowers will not be affected. If you are concerned about exceeding these limits, we encourage you to speak with the University's finance advisors to explore available options.

Current graduate students

If you borrowed a federal Direct Loan for your current program before July 1, 2026, and remain continuously enrolled in the same program at �鶹��ý, you may be eligible to continue borrowing under prior rules, including Grad PLUS, for up to three additional academic years or your remaining time to complete your credential, as defined by the University, whichever comes first.

New graduate students enrolling and receiving their first federal loan on or after July 1, 2026

If you are a new graduate student whose federal Direct loans are first disbursed on or after July 1, 2026, the new OB3 rules apply to you and you will be subject to the new loan limits from the start of your program. We strongly recommend connecting with a Financial Aid advisor before or during the enrollment process to build a financing plan for your full program.

Beginning July 1, 2026, federal student borrowing will be subject to new aggregate (lifetime) limits:

• Graduate students: $100,000 aggregate limit for graduate study
• All students: $257,500 combined lifetime limit for undergraduate and graduate borrowing

For borrowers subject to these new borrowing limits, all federal student loans borrowed for undergraduate and graduate study—including loans disbursed before July 1, 2026—count toward the applicable aggregate limit. Parent PLUS loans are excluded.

Beginning with the 2026-27 academic year, two new restrictions on Pell Grant eligibility take effect.

If your scholarships or grants fully cover your cost of attendance

Students who receive non-federal grants or scholarships that meet or exceed their full cost of attendance for the academic year will not be eligible to receive a Pell Grant for that term, even if they would otherwise qualify based on financial need.

Student Aid Index (SAI) threshold change

Students with a equal to or greater than twice the maximum Pell Grant award may no longer qualify for Pell funding. Based on the current maximum award of $7,395, students with an SAI of $14,790 or higher would be ineligible.

These changes do not affect �鶹��ý scholarships or institutional awards.

Your repayment options depend on when your loans were first disbursed.

Borrowers with only Direct Loans first disbursed before July 1, 2026

If you do not receive a new Direct Loan on or after July 1, 2026, you may continue to access the repayment plans available to legacy borrowers. The SAVE, PAYE, and ICR plans will be phased out by July 1, 2028, and affected borrowers must transition to another eligible repayment plan. (If you do not select a new plan by that date, your loan servicer will automatically place you into the Repayment Assistance Plan (RAP).

Borrowers who receive a new Direct Loan on or after July 1, 2026, become subject to the new repayment framework established under the law.

Loans first disbursed on or after July 1, 2026

Two repayment plan options will be available:

• Tiered Standard Repayment Plan: Fixed monthly payments over 10 to 25 years depending on loan balance.
• Repayment Assistance Plan (RAP): Monthly payments based on 1%–10% of adjusted gross income, with loan forgiveness available after 30 years. Note: borrowers who enroll in RAP cannot switch back to the standard plan.

Note: New Parent PLUS loans issued on or after July 1, 2026, are only eligible for standard repayment and are not eligible for RAP.

To estimate your monthly payments under the new plans, refer to the federal .

Parent PLUS Loans

Parents borrowing on behalf of a dependent undergraduate student will face new annual and lifetime limits beginning July 1, 2026:

• Up to $20,000 per year per student
• Up to $65,000 total per student

Prior rules allowed parents to borrow up to the student's annual full cost of attendance. If two parents both borrow on behalf of the same student, these limits apply to their combined total.

Parents who borrowed a Parent PLUS Loan before July 1, 2026, and whose student remains enrolled in the same program at the same institution may be eligible to continue borrowing under prior limits for up to three additional academic years or the student’s remaining time to complete their program, as defined by the University, whichever comes first.