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Financial Aid Legislative Update

麻豆原创 Financial Aid Legislative Update

Our Commitment to You

The Office of Student Financial Services is committed to providing clear, accurate, and timely information about how federal legislation may affect your financial aid.

We will share what we know, identify what is still evolving, and connect you with reliable resources. As additional federal guidance becomes available, this page will be updated.

One Big Beautiful Bill Act (OBBBA)

Signed into law: July 4, 2025

The One Big Beautiful Bill Act (OBBBA) is a budget reconciliation package that includes federal changes to student financial aid and loan programs.

What this means for Manchester students

  • Current students are not impacted by these changes for the remainder of the 2025-26 academic year.
  • While many updates will apply to new and transfer students beginning July 1, 2026, there will be some changes that will affect all students beginning in the 2026-27 academic year. Please see areas below for more information.

Last updated: May 12, 2026

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Federal Pell Grants

Beginning in the 2026-27 academic year, the OBBBA eliminates Federal Pell Grant eligibility for some students. Students receiving enough non-federal grants and scholarships to cover 100% or more of their estimated Cost of Attendance (COA) and those with a Student Aid Index (SAI) at least twice the value of the maximum Pell award in the given award year will no longer be eligible for Federal Pell Grants.

For more information see: .

Federal Direct Loans for Graduate and Professional Students

Grad PLUS Loan Changes

The Grad PLUS Loan program will be discontinued for new borrowers after July 1, 2026.
Some current graduate and professional students may remain eligible to continue borrowing through the Grad PLUS Loan program under a federal Limited Exception/Legacy Provision. The Limited Exception/Legacy Provision allows students to continue to borrow under the Graduate PLUS program (for up to three academic years or the remainder of their expected time to credential, whichever is less) if they remain continuously enrolled in the same program of study at the same institution as they were enrolled as of June 30, 2026 and for whom a Direct Loan was made for that program of study prior to July 1, 2026.

For more information see: 听补苍诲

Federal Loan Limit Changes

In addition, beginning July 1, 2026, new borrowing limits will apply for the Federal Direct Loan Unsubsidized program:

Annual Loan Limits

  • Up to $20,500 per year for eligible graduate programs.
    Manchester has five graduate programs: Doctor of Physical Therapy, Master of Athletic Training, Master of Business Administration, Master of Science in Nutrition and Nutrigenomics, and Master of Science in Pharmacogenomics.
  • Up to $50,000 per year for eligible professional programs.
    Manchester has one professional program: Doctor of Pharmacy.

Aggregate Loan Limits*

  • $100,000 total for graduate programs.
  • $200,000 total for professional programs.

Lifetime Loan Limits**

  • $257,500 total for graduate programs.
  • $257,500 total for professional programs.

* Excludes undergraduate borrowing

**Includes all student borrowing: undergraduate, graduate, Grad PLUS and amounts canceled, repaid, forgiven or discharged

Some current graduate and professional students may stay at the current annual and lifetime loan limits under a federal Limited Exception/Legacy Provision. Through the Limited Exception/Legacy Provision, students are not subject to the new loan limits (for up to three academic years or the remainder of their expected time to credential, whichever is less) if they remain continuously enrolled in the same program of study at the same institution as they were enrolled as of June 30, 2026 and for whom a Direct Loan was made for that program of study prior to July 1, 2026.

For more information see: , , and .

Federal Loan Proration for Less Than Full-Time Enrollment

Students who enroll less than full-time in 2026-27 or future years will have their federal Direct Unsubsidized and/or Graduate PLUS Loans prorated in accordance with changes to the law. Students thinking of enrolling part-time or dropping a class should talk to their Success Advisor and Student Financial Services first to understand the implications.

Federal Direct Loans for Undergraduate Students

Federal Loan Limits

There are no changes to annual and lifetime federal student loan limits for undergraduate students under the OBBBA. Students will continue to borrow within existing annual and lifetime federal loan limits.

Federal Loan Proration for Less Than Full-Time Enrollment

Students who enroll less than full-time in 2026-27 or future years will have their federal Direct Subsidized and/or Unsubsidized Loans prorated in accordance with changes to the law. Students thinking of enrolling part-time or dropping a class should talk to their Success Advisor and Student Financial Services first to understand the implications.

Federal Direct Loans for Parent Borrowers (Parent PLUS Loans)

Beginning July 1, 2026, new limits will apply to Parent PLUS Loans for new and transfer students. New limits will also apply to current students who have not had a Direct Loan or Parent PLUS loan prior to July 1, 2026.

In plain terms

  • Parents can borrow up to $20,000 per year per student
  • There is a lifetime maximum of $65,000 per student

These limits apply regardless of how many parents are borrowing.
Limited Exception/Legacy Provision: Parents are not subject to the new PLUS loan limits (for up to three academic years or the remainder of the student鈥檚 expected time to credential, whichever is less) if the student remains continuously enrolled in the same program of study at the same institution as they were enrolled as of June 30, 2026 and either the parent had a Parent PLUS Loan disbursed for that same program before July 1, 2026, or the student had a Direct Loan (subsidized or unsubsidized) disbursed for that same program before July 1, 2026.
For more information see: 听补苍诲 .

Federal Loan Repayment Plans

The OBBBA introduces changes to how student loans are repaid, beginning July 1, 2026.

New Repayment Options

Borrowers will have two primary options:

  • A new income-based plan called the Repayment Assistance Plan (RAP)
  • A revised Standard Repayment Plan

Repayment Assistance Plan (RAP)

  • Monthly payments based on 1鈥10% of income
  • Minimum payment of $10 per month
  • Repayment term of up to 30 years
  • Eligible for Public Service Loan Forgiveness (PSLF)
  • Prevents loan balances from growing due to unpaid interest

Tiered Standard Repayment

  • Fixed monthly payments
  • Repayment term of up to 25 years
  • Required plan for all new Parent PLUS loans from July 1, 2026 on

What happens to current borrowers

  • You may be able to keep your current repayment plan
  • Some plans will transition to RAP in the future (by July 1, 2028)
  • You can choose to switch plans depending on your situation

For additional information see , , , and .

Complete Detailed Information

For more research into the One Big Beautiful Bill Act, we recommend the following resources.

A grad student from 麻豆原创 Fort Wayne walks the North Manchester campus.

Questions or Need Help?

We understand that financial aid changes can feel complex. Our team is here to help.

Please contact the Office of Student Financial Services for personalized guidance:

Phone: 260-982-5066
Email: sfs@manchester.edu

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