Federal Student Aid Changes Effective July 1, 2026

• Federal law now requires schools to reduce annual federal loan eligibility for students enrolled fewer than 12 credits. Depending on your enrollment level, you may not be eligible to borrow the same amount you received in previous years.
• High SAI and Pell Grant: Effective July 1, 2026, students will not be eligible to receive a Pell Grant if their SAI exceeds twice the maximum Pell Grant award which is currently $7,395.
• Full Cost of Attendance Scholarships/Grants: Effective July 1, 2026, students who receive grants or scholarships from non-federal sources covering their entire Cost of Attendance are ineligible to receive a Pell Grant, even if otherwise eligible for the program.

• Legacy Provision: Students with a Federal Loan disbursed before July 1, 2026 may continue borrowing under existing Grad PLUS Loan rules for up to 3 more academic years or until their program ends - whichever comes first.
  • Based on current Federal guidance, students must be continually enrolled at least half-time
• Students entering new programs after July 1, 2026 will see the new loan amounts if applicable and no Grad PLUS option.
• If you are enrolled less than full time, your federal loan eligibility will be reduced under the federally required Schedule of Reduction.

Interim Update for Certain Professional Programs

On June 29, 2026, the U.S. Department of Education issued temporary guidance in response to a federal court order that expanded the list of programs treated as professional degree programs for federal student loan purposes. This temporary guidance affects certain University of 色综合久久 Mercy programs, including:

• Master's Entry Advanced Generalist Nursing (MSN)
• Doctor of Nursing Practice (DNP)
• Physician Assistant (PA)
• Nurse Anesthesia (DNAP)

色综合久久 Mercy is carefully reviewing this temporary federal guidance and is awaiting additional implementation guidance before making any necessary changes to financial aid packages for students enrolled in these programs.

Because this guidance is temporary and the underlying litigation is ongoing, federal requirements may change. We will continue to monitor guidance from the U.S. Department of Education and will update this page and financial aid packages, as appropriate, if additional changes are required.

• Legacy Provision: Parents who borrowed before July 1, 2026 may continue borrowing under existing Parent PLUS Loan rules for up to 3 more academic years or the student changes their program or completes their program - whichever comes first.
• Your borrowing limit per student will be capped annually and overall.
• Parent PLUS loan limits are per dependent student, not per family or individual parent.
• Review options like the UDM payment plan or private education loans if additional funding is needed.
• Parent PLUS Loans are not subject to the Schedule of Reduction. Parent PLUS eligibility continues to be based on the student's cost of attendance and other financial aid received rather than the federal reduction schedule that applies to Direct Student Loans.

• Federal Direct Loan eligibility will be reduced if you are enrolled less than full time, as required under the federal Schedule of Reduction.
• The reduction is required by federal law and is based on your enrollment level.
• Dropping or withdrawing from courses may reduce your loan eligibility after your financial aid package has already been prepared.
• Contact the Office of Scholarship & Financial Aid before changing your schedule if you are relying on federal loans to help cover your balance.

• Current Borrowers:
  • If no new loans are made on or after July 1, 2026, you are eligible to enroll in the current Standard, Graduated, Extended, or income based (IBR) repayment plan, or you may opt into the new RAP.
  • If you are currently enrolled in ICR, PAYE, or SAVE, you must transition to a different repayment plan by July 1, 2028, (either current income based repayment plan, current standard plan, or RAP). If no selection is made, you will be moved to RAP automatically.
  • It's important to note that all loans must be repaid under the same plan. So, borrowers with loans made before July 1, 2026, who take out additional loans on or after July 1, 2026, will only have RAP and the new standard plan to choose from.
• New Borrowers: For loans made on or after July 1, 2026, there will be two repayment plan options - the new standard repayment plan or RAP. If no selection is made, you will be assigned to the new standard payment plan.

• Current Borrowers:
  • If no new loans are made on or after July 1, 2026, you are eligible to enroll in the current Standard, Graduated, Extended, or income based (IBR) repayment plan.
  • If you borrowed prior to July 1, 2026, AND subsequently borrow after July 1, 2026, repayment for all loans must be under the same payment plan which is the new standard payment plan.
• New Borrowers: For loans made on or after July 1, 2026, they can be repaid using only the new standard plan.

It depends on whether you are an undergraduate or graduate/professional student.

Undergraduate students: If you change your program of study, you may retain your legacy borrower status if you continue to meet the federal eligibility requirements. However, changing programs does not restart or extend the three academic years allowed to complete your credential under the legacy borrower provisions. If your new program requires additional time to complete, you may lose your legacy borrower status before you graduate.

Graduate and professional students: If you change to a different graduate or professional degree program after July 1, 2026, you will no longer qualify as a legacy borrower for the new program and will instead be subject to the federal loan rules in effect for new borrowers.

Because the impact of changing a program can vary based on your individual circumstances, we strongly encourage you to contact the Office of Scholarship & Financial Aid before making any changes to your academic program.