New federal financial aid rules take effect July 1

Beginning July 1, new federal regulations will change several student financial aid programs, particularly the Federal Direct Loan Program.

Key provisions include:

• The elimination of the Graduate PLUS program
• Changes to annual and degree borrowing limits for graduate and professional students
• The introduction of a new lifetime student borrowing limit
• New limits on PLUS borrowing for parents of undergraduate students

Current students who have received a Direct Loan - or whose parent did - while enrolled in their current academic program may qualify for a temporary exception. Eligible students may continue borrowing under existing federal rules for up to three years, or the published length of your program minus the amount of time you have been enrolled in it, whichever is shorter.

To maintain eligibility, students must remain continuously enrolled in their academic program, excluding summer terms unless summer enrollment is required.

Additional updates include minor changes to the Federal Pell Grant program. Beginning in fall 2026, student Direct Loans (not parent loans) may be reduced if a student does not enroll in or complete a full-time course load in a given term.

The Office of Student Financial Aid and Marquette Central encourage students and families to review the financial aid changes page throughout the summer, as guidance from the U.S. Department of Education continues to evolve. The page will be updated regularly.

Questions can be directed to Marquette Central in Zilber Hall by calling (414) 288-4000 or emailing [email protected].