WICHITA, Kan. (KSNW) — Major changes to federal student aid and loan programs take effect July 1.
Wichita State University said Wednesday that it is working to prepare students and their families for the eligibility changes that were made as part of the One Big Beautiful Bill Act.
Here is a breakdown of what will be different:
- Parent PLUS Loans: For new borrowers, annual borrowing is capped at $20,000, with a lifetime limit of $65,000.
- Graduate PLUS Loans: No longer available to new borrowers.
- Direct loans: Loan amounts will be reduced for students who aren’t full time.
- Legacy (interim exception) borrowers: Current Parent PLUS and Graduate PLUS borrowers may continue borrowing for up to three academic years if they continue to meet eligibility for legacy status.
- Pell Grants: Students with a Student Aid Index at or above twice the maximum grant amount will no longer qualify. Awards may be reduced if other scholarships or grants fully cover a student’s cost of attendance.
- Annual borrowing limits for professional students will be set at $50,000 with a $200,000 lifetime cap. At Wichita State, this applies only to students enrolled in the clinical psychology Ph.D. program.
- Part-time students (less than 12 hours for undergraduates and less than nine hours for graduates) will receive less federal aid.
- Students who drop from full-time to part-time during a semester may be required to immediately repay a portion of their federal loan based on the reduced enrollment level.
Wichita State encourages students receiving financial aid to review their offer closely so that they fully understand how the changes may impact the aid they receive. The new regulations may mean they receive less financial aid overall, and certain loans they originally qualified for may no longer be available to them…