Impact of the One Big Beautiful Bill Act on Financial Aid

The One Big Beautiful Bill Act (OBBBA), a federal budget reconciliation package signed into law on July 4, 2025, includes several significant changes to federal student aid that will take effect on July 1, 2026.

There are no changes to federal student aid for the fall 2025 and spring 2026 terms.

Fordham continues to track the evolution of this legislation and will provide clarification on this page as more information and guidance are made available from the University and the U.S. Department of Education (ED).

The below information is provided by Fordham to help our community understand the evolving federal student loan landscape. This is based on our current understanding of the legislation, but it is not official guidance and should not be considered definitive. Please refer to federal government sources for all official rules and regulations. See FSA's OBBBA page for more information.

Anticipated Student Loan Changes beginning July 1, 2026

Undergraduate Students

    • Annual limits are unchanged for full-time students.
    • Students enrolled below full-time (12 credits per semester) will have their eligibility prorated based on actual enrollment.
    • Parent PLUS loans will be capped at $20,000 annually per student, with a lifetime limit of $65,000.
    • Students with a Federal Direct loan disbursed at Fordham before July 1, 2026, can continue borrowing under current limits through program completion or three additional years, whichever comes first.

Graduate Students

    • Graduate PLUS Loans will no longer be available to new borrowers starting July 1, 2026.
    • Continuing borrowers with a Federal Direct loan disbursed at Fordham before July 1, 2026, can continue to borrow Graduate PLUS Loans until the completion of their current program or for up to three additional years, whichever comes first. 
    • Students enrolled at full-time credit levels remain eligible for up to $20,500 per academic year. 
    • Students enrolled at less than full-time will have their eligibility prorated based on their actual enrollment. 
    • New borrowers are subject to an aggregate limit of $100,000, which only includes loans received during graduate study.
    • Continuing borrowers maintain an aggregate limit of $138,500, which includes all undergraduate and graduate loans.
    • New students in the Law School JD program and those pursuing a PhD in School Psychology or Counseling Psychology will have an annual limit of $50,000 and a lifetime limit of $200,000.  
    • We await clarification on whether existing graduate students must have had a Grad PLUS loan disbursement or if a Federal Unsubsidized Loan disbursement is sufficient to have access to pre-OBBBA federal student aid.
    • It is unclear whether existing graduate students in professional programs can also access the new $50,000 Unsubsidized Loan cap instead.
    • The new legislation includes a provision requiring the pro-ration of annual loan eligibility based on a student's enrollment level if it is less than full-time.
    • We are awaiting guidance on the method that will be used to calculate eligibility.
    • There is uncertainty about whether this will apply to both Undergraduate and Graduate Students.

Contact Us

Our staff is available to answer phone inquiries from Monday to Friday between 9 a.m. and 5 p.m.

Financial Aid
[email protected]
718-817-3800

Student Accounts
[email protected]
718-817-4900

Student Employment
[email protected]
718-817-3820

Admissions

General: [email protected]
International: [email protected]
Transfer Students: [email protected]

Reach us virtually or in person

You can now get face-to-face virtual assistance from our representatives, or you can walk into our on-campus locations.