No. If you’re currently receiving aid or are in repayment, your loans and grants remain under their present terms for now. Most changes—including new loan limits and repayment options—will apply starting in the 2026–27 academic year. 

Changes to your enrollment, such as a leave of absence or interrupted enrollment, may affect your future eligibility.

The OB3 law requires annual loan amounts to be prorated in direct proportion to your enrollment status. This change is effective with all loans borrowed for the 2026-27 academic year. Your eligibility will be determined at the time of disbursement based on the number of credits a full-time student is expected to take for the academic year.

Students may not receive any more than 50% of their annual loan limit each semester. This means that if you did not borrow your loans in the Fall semester, you cannot then request the totality of those loans in the Spring semester.

There are no changes to how much federal loans an undergraduate student may borrow.

• Annual loan limit $5,500-$12,500 based on year in school and dependency status.
• Aggregate loan limit $31,000-$57,500 based on dependency status.

Yes, but starting in the 2026–27 academic year, new limits apply:

• Parents will be capped at $20,000 per year and $65,000 lifetime in PLUS borrowing per student.
• If both parents borrow on behalf of the same student, their combined borrowing is capped at $20,000 per year and $65,000 lifetime.

Legacy Provision for Parent Borrowers: If you already have Parent PLUS Loans, you are eligible to borrow under the previous loan limits for the remainder of your student’s program or three years, whichever is shorter. Your student must remain continuously enrolled in their current program. If they take a leave of absence or don’t complete a term, you will be considered a new borrower and subject to the new limits.

Yes. Starting in the 2026–27 academic year, students will no longer be eligible for a Pell Grant if their Student Aid Index (SAI) is greater than twice the maximum Pell award for that year. Pell award amounts will continue to vary based on income and family size, but there is now a firm cutoff tied to the annual Pell maximum.

Maximum Pell Grants for 2026-27 is $7,395, so students with a SAI of 14791 or higher are not eligible for Pell.

No. For an undergraduate student to borrow additional unsubsidized loan funds, the parent must be credit denied for the Parent PLUS Loan or otherwise ineligible to apply for the loan. Reaching the aggregate borrowing limit is not an exceptional circumstance.