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Federal Student Aid Changes for 2026-27

Federal student aid rules are changing for the 2026-27 academic year. These changes may affect federal student loan borrowing, Parent PLUS Loans, Graduate PLUS Loans, loan limits and loan eligibility for some students and families.

SUNY Oswego is monitoring guidance from Federal Student Aid and the U.S. Department of Education. This page will be updated as additional information becomes available.

Last updated: May 2026

What students and families should know

Beginning July 1, 2026, several federal student aid changes are scheduled to take effect. These changes do not affect financial aid for the 2025-26 academic year.

The changes may affect students and families differently depending on student type, program, borrowing history, enrollment level and whether the borrower is considered a new or current borrower under federal rules.

Students and families should review information carefully and contact the Financial Aid Office with questions about their individual situation.

Key areas of change

Federal student aid changes may include:

  • New borrowing limits for Parent PLUS Loans
  • Changes to Graduate PLUS Loan eligibility
  • New federal loan limits for graduate and professional students
  • New lifetime federal student loan limits
  • Changes to loan eligibility based on enrollment level
  • Changes to repayment options for some borrowers

Some of these changes are connected to federal legislation commonly referred to as the One Big Beautiful Bill Act. SUNY Oswego will continue to update this page as federal implementation guidance becomes available.

What you should do now

  • Complete the 2026-27 FAFSA if you have not already done so.
  • Review federal student aid updates at StudentAid.gov.
  • Check federal loan borrowing history at StudentAid.gov.
  • Monitor SUNY Oswego email and financial aid information.
  • Review estimated costs and available aid before making borrowing decisions.
  • Contact the Financial Aid Office with questions about individual eligibility.

FAFSA and Federal Aid Information

Do I still need to complete the FAFSA?

Yes. Students should complete the FAFSA each year they plan to enroll. The FAFSA is used to determine eligibility for federal aid and may also be required for state and institutional aid.

Where can I find FAFSA help?

Visit SUNY Oswego’s FAFSA Updates page for FAFSA filing resources, help sessions, and support information.

Where can I find official federal updates?

Students and families should review updates from Federal Student Aid at StudentAid.gov.

Do these changes affect 2025-26 financial aid?

No. These changes are scheduled to begin with the 2026-27 academic year and do not change financial aid eligibility for the 2025-26 academic year.

Will these changes affect me?

Possibly. The impact depends on your student type, program, borrowing history, enrollment level and whether you are considered a new or current borrower under federal rules.

Undergraduate and Parent PLUS Loans

Are undergraduate student loan limits changing?

Annual undergraduate federal student loan limits are not changing under this legislation. However, Parent PLUS Loan limits are changing for new parent borrowers beginning July 1, 2026.

Are Parent PLUS Loans changing?

Yes. Beginning July 1, 2026, new federal borrowing limits apply to Parent PLUS Loans for new borrowers.

How much can parents borrow through Parent PLUS under the new limits?

For new borrowers, all parent borrowers combined may borrow up to $20,000 per academic year per dependent student, with a $65,000 total Parent PLUS limit per dependent student.

What if my parent already borrowed a Parent PLUS Loan before July 1, 2026?

Some current Parent PLUS borrowers may be eligible for transition provisions if the loan was borrowed before July 1, 2026, for the student’s current academic program and the student remains in the same program. Contact Financial Aid for guidance specific to your situation.

Graduate and Professional Student Loans 

Are Graduate PLUS Loans changing?

Yes. Graduate PLUS Loans are being phased out for new graduate and professional borrowers beginning July 1, 2026. Some current borrowers may qualify for transition provisions.

What if I am already enrolled in a graduate program?

Current graduate students may be subject to transition provisions depending on their borrowing history and whether they remain in the same academic program. Contact Financial Aid for individual guidance.

Program Changes and Enrollment Status 

What if I change programs?

Changing programs may affect borrower status and loan eligibility. Students should contact Financial Aid before changing programs if they rely on federal loans.

Will taking classes part time reduce how much I can borrow?

It may. Federal loan eligibility may be prorated based on enrollment level. Students enrolled less than full time may have lower loan eligibility than students enrolled full time.

Borrowing History and Planning 

What should I do if I planned to use Parent PLUS or Graduate PLUS?

Complete the FAFSA, review your estimated costs, check your federal loan history and contact Financial Aid before making borrowing decisions.

Where can I view my federal loan history?

Students can review federal loan borrowing history at StudentAid.gov.

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