Federal Student Aid Changes for Graduate Students

This page contains information regarding the changes happening to federal student aid programs starting in the 2026-2027 academic school year. On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) was signed into law which resulted in several changes to federal student aid that we wanted to notify our students of. For current up-to-date information please visit https://springfield.edu/financial-aid/federal-student-aid-changes-one-big-beautiful-bill-act or studentaid.gov to see more.

Please visit https://springfield.edu/financial-aid/federal-student-aid-changes-one-big-beautiful-bill-act for more details. If you have any further questions or concerns we may be reached at the Office of Financial Aid at Springfield College, (413) 748- 3108 or financialaid@springfieldcollege.edu. Additionally you may also make an appointment with your financial aid counselor using their Calendly links found here

For Graduate Students - Effective July 1, 2026

Students who are currently enrolled in their program of study before July 1, 2026 and have had some sort of federal loan (Direct Subsidized, Direct Unsubsided, or PLUS) disbursed to their bill before July 1, 2026 they would be eligible for legacy provisions which would keep their loan borrowing annual and aggregate limits the same. These legacy provisions will last for up to 3 years or until the published program length, whichever is less.

Please note that if a student withdraws from their program of study, takes a leave of absence from their program, or transfers to another institution, they will lose these legacy provisions and be subject to the following new loan limits and rules.

For those who will not qualify for the legacy provisions, here are the new rules that may affect you:

• Elimination of Graduate PLUS Loan program
• Annual Loan Limit of $20,500 for graduate students
• Lifetime Aggregate Limit of $100,000 for graduate students: Does not include the federal loans borrowed as an undergraduate student
• Annual Loan Limit of $50,000 for professional students: Please note that based on how the Department of Education defines a “professional” student, only the PsyD program at Springfield College would qualify for this higher loan limit. All other programs would be defined as a “graduate” student with the lower borrowing limits
• Lifetime Aggregate Limit of $200,000 for professional students: Does not include the federal loans borrowed as an undergraduate student
• Lifetime aggregate borrowing limit for federal loans is $257,500: Does not include ParentPLUS loans borrowed on their behalf

If you have questions on whether the legacy provisions or new rules apply to you, please contact the financial aid office or visit studentaid.gov for more information.

For ALL Students (Legacy provisions are not applicable for the following)

Effective at the start of the 2026-2027 school year:

• Federal student loans will now be prorated for less than full-time enrollment
  • For graduate students who are enrolled in less than 9 credits per semester, their federal loans will have a reduced annual loan limit
    • Ex. A graduate student enrolls in 6 credits for the fall
    • 6 credits enrolled, 9 credits to be considered full-time = 0.66
    • The student is now only eligible for 67% of the annual loan limit
  • We recommend that students speak with the financial aid office on how their financial aid packages may change when dropping to less than full-time status.

Effective July 1, 2026

• Reduced loan repayment plan options
  • For borrowers who borrow new loans that are disbursed on or after July 1, 2026 will only be repaid using one of two repayment plan options (For more information on these plans please visit studentaid.gov
    • New Standard Repayment Plan
    • New Income-based Repayment Plan (RAP)

Effective July 1, 2027

• Loan deferment due to economic hardship and/or unemployment will no longer be allowed
• Loans made on or after July 1, 2027 will only be eligible for loan forbearance for up to 9 months within a 2-year period