Important Information Regarding Federal Financial Aid for Undergraduate Students

Federal legislation enacted in July 2025 makes changes to how undergraduate students can finance their education using federal student loans. These changes take effect July 1, 2026, beginning with the 2026–2027 academic year.

• Parent PLUS Loans will be capped at $20,000 per student per year and a $65,000 lifetime limit beginning July 1, 2026

• Parents who borrowed before that date can continue borrowing under the current limits for up to three additional years or until their student completes their program

• Pell Grants may be subject to changes in amount if a student has received aid up to their cost of attendance (non-federal grants, state, and institutional scholarships)

It is important to note that neither undergraduate loan rules nor undergraduate borrowing limits are changing.