2025 Reconciliation Package
What Regis Students Need to Know
On July 4, 2025, President Trump signed into law a new Federal Reconciliation Package, also referred to as the "Big Beautiful Bill." This legislation introduces several policy changes that could impact both current and future financial aid and student loan repayment plans. Below, we've answered some key questions to help you understand what this means for you as a student at Regis University. We'll continue to update this information as additional guidance becomes available from the U.S. Department of Education.
General Information
The One Big Beautiful Bill (OB3) Act impacts current and incoming students differently across undergraduate, graduate and doctoral levels. The following sections outline the key changes applicable to all students, followed by specific breakdowns for undergraduate and graduate-level students.
All Students
No matter your student standing, institutions must consider a student’s enrollment status when determining Federal Loan eligibility. Students enrolled less than full-time will be eligible for reduced loan funding based on the number of credit hours they enroll in. Additional details and final guidance are forthcoming.
If you are a current student and you borrow or have borrowed a Federal Direct loan and that loan disburses prior to July 1, 2026, you are considered a legacy student and your annual and aggregate federal student loan limits remain unchanged, provided you maintain continuous enrollment in your same degree/program of study.
If you are considered a legacy student, you cannot opt out of the legacy borrowing parameters.
All new student borrowers, or students who cease to be continuously enrolled in their current program, will be considered for Federal Direct student loans based on the guidance provided by the One Big Beautiful Bill Act.
For new loans disbursed after July 1, 2026, the bill eliminates current income-driven repayment plans (IBR, PAYE, SAVE) and replaces them with a new Repayment Assistance Program (RAP).
Students who have borrowed loans before July 1, 2026, and will borrow a new loan after July 1, 2026, are limited to the new RAP or the standard plans for the new loan.
RAP borrowers will not be locked into a 30-year plan. They can switch to a standard plan, which ranges from 10 to 25 years.
Borrowers with no new loans made on or after July 1, 2026, can continue to be eligible to enroll in the current Standard, current Income Based (IBR), Graduated, and Extended repayment plans, and could also opt in to the new RAP. Current borrowers enrolled in ICR, PAYE, or SAVE plans must transition to a new repayment plan by July 1, 2028. If no selection is made by that date, they will be moved into RAP.
More information on the new RAP is forthcoming.
Please continue to monitor your student loan history and find your loan servicer contact information on your studentaid.gov dashboard.
Undergraduate Students
Beginning July 1, 2026, students with a Student Aid Index (SAI) that exceeds twice the maximum Pell Grant award will not be eligible to receive a Federal Pell grant.
The current maximum Pell grant amount remains unchanged for the 2026-27 year, but we are still waiting for official federal government appropriations.
There are no changes for undergraduate loans, although undergraduate loans will count towards the new lifetime limits.
For new loans disbursed after July 1, 2026, the bill eliminates current income-driven repayment plans (IBR, PAYE, SAVE) and replaces them with a new Repayment Assistance Program (RAP).
Beginning July 1, 2026, Parent PLUS loans will be capped at $20,000 per student per year, with a $65,000 lifetime limit per dependent student.
Parents who borrow the maximum amount of $20,000 for their student’s first three(3) years of study will have limited Parent PLUS Loan eligibility for their student’s final year of study.
Existing Parent PLUS borrowers who have borrowed for their students before July 1, 2026, can continue to borrow under the current limits for up to 3 more academic years or until the student’s program is completed, whichever is sooner, provided their student maintains continuous enrollment.
Private Loan programs are unsecured educational loans offered by banks, credit unions, and other financial institutions. These loans must be repaid with interest. Interest rates vary based on your creditworthiness and/or the creditworthiness of a co-signer.
Regis University partners with ELMSelect to provide opportunities to review different loan options and select the lender that best fits your needs, but you may choose a lender that is not included on this list. Regis University is lender-neutral and cannot recommend a specific lender to students or families.
Now is the time to check your credit score to determine your creditworthiness. You may obtain a free credit report from Equifax, TransUnion, or Experian to review for errors, pay down existing debt, and make on-time payments to improve your credit score before applying for Private Loan funding.
A cosigner is someone who agrees to share financial responsibility for a private loan, assuring the lender that the loan will be repaid. This may be a parent, guardian, or trusted relative with a strong credit history who supports your educational goals.
Please note: The co-signer becomes legally responsible for repayment if you are unable to repay the loan.
Graduate Students
Based on current regulations from OB3, a professional student is a student enrolled in a program of study that awards a professional degree upon completion of the program. A professional degree is a degree that signifies both completion of the academic requirements for beginning practice in a given profession, and a level of professional skill beyond that normally required for a bachelor’s degree; is generally at the doctoral level, and requires at least six academic years of postsecondary education coursework for completion, including at least two years of postbaccalaureate level coursework; generally requires professional licensure to begin practice; and includes a four digit program CIP code that are the same as the 11* spelled out (medicine, pharmacy, law, divinity, etc.) but must also lead to licensure and have at least two years of post-baccalaureate study.
*Pharmacy (Pharm.D.), Dentistry (D.D.S. or D.M.D.), Veterinary Medicine (D.V.M.), Chiropractic (D.C. or D.C.M.), Law (L.L.B. or J.D.), Medicine (M.D.), Optometry (O.D.), Osteopathic Medicine (D.O.), Podiatry (D.P.M., D.P., or Pod.D.), Theology (M.Div., or M.H.L.), and Clinical Psychology (Psy.D. or Ph.D.).
Note: Graduate-level students who do not meet this definition are considered graduate students.
Click here for more information from NASFAA regarding professional students
At Regis University, this means that Doctorate of Pharmacy students are defined as professional level students and new borrowers will be offered professional Federal Direct student loan annual limits and must adhere to professional Federal Direct student loan lifetime aggregates.
Up to $20,500 per academic year with a $100,000 lifetime for graduate level loans. For designated professional programs, students may borrow up to $50,000 per year with a $200,000 lifetime limit on graduate and professional loans.
Students who are considered “legacy borrowers” and remain continuously enrolled in their current degree/program of study, will be monitored under current Federal Direct Student Loan Limits. Students cannot opt out of their legacy status in order to utilize new loan limits.
OB3 eliminated Graduate PLUS loan as a federal direct student loan option for new borrowers beginning with the 2026–27 year. Current eligible borrowers may continue to borrow Graduate PLUS loan provided they remain continuously enrolled in their current program for up to three academic years or until graduation, whichever comes first.
Private Loan programs are unsecured educational loans offered by banks, credit unions, and other financial institutions. These loans must be repaid with interest. Interest rates vary based on your creditworthiness and/or the creditworthiness of a co-signer.
Regis University partners with ELMSelect to provide opportunities to review different loan options and select the lender that best fits your needs, but you may choose a lender that is not included on this list. Regis University is lender-neutral and cannot recommend a specific lender to students or families.
Now is the time to check your credit score to determine your creditworthiness. You may obtain a free credit report from Equifax, TransUnion, or Experian to improve your credit score before applying for Private Loan funding.
A cosigner is someone who agrees to share financial responsibility for a private loan, assuring the lender that the loan will be repaid. This may be a parent, guardian, or trusted relative with a strong credit history who supports your educational goals.
Please note: The co-signer becomes legally responsible for repayment if you are unable to repay the loan.
General FAQs
The "Big Beautiful Bill" refers to the legislative proposal from President Trump, primarily aimed at extending 2017 tax cuts and implementing significant spending changes.
This Reconciliation Bill does not make any changes to the Free Application for Federal Student Aid (FAFSA) application process or to federal financial aid funds for the 2025-26 academic year.
This Reconciliation Package is not a Budget Request for annual financial aid funds.
The Bill includes changes to federal student loans and borrowing limits, as well as changes to student loan repayment effective July 1, 2026.
Yes. It’s possible that you may see changes to your financial aid and eligibility for funds, particularly student loans, as we move into the 2026-27 academic year. Some changes may be due to this reconciliation package. However, financial aid eligibility may change annually due to changes to your income as reported on your FAFSA. Additionally, there are legacy provisions in this bill that may allow students to continue to qualify for current student loan options in order to complete their current program of study.
As this Reconciliation package is both new and very large, we are waiting for additional information and clarification from the U.S. Department of Education.
The 2026-27 FAFSA should be available on October 1, 2025, and we encourage all continuing students to renew their FAFSA as quickly as possible, but no later than our March 1 priority deadline.
You are not required to begin repayment on your student loans until 6 months after you’ve graduated or dropped below half-time. At that time, your loan servicer(s) should reach out to you directly to set up a repayment plan. You are responsible for repayment, even if you don’t hear from your loan servicer. You can find your loan history, loan servicer, and loan servicer contact information by logging into your account at studentaid.gov.
When we begin preparations for the 2026-2027 academic year, you can expect additional information regarding how these changes will impact your 2026-2027 financial aid award offer.
What's Coming in 2026: Federal Loan Changes and Limits
Beginning July 1, 2026, Parent PLUS loans will be capped at $20,000 per year per dependent student and $65,000 total per dependent student, regardless of amounts forgiven, repaid, canceled or discharged.
The Graduate PLUS program will be eliminated on July 1, 2026. Current borrowers will be able to continue borrowing for their current program of study under a Legacy Provision:
If a borrower has a Direct Loan disbursed before July 1, 2026, while enrolled in a credentialed program, the borrower can continue to borrow under current loan limits for three academic years or the remainder of their expected time to credential, whichever is less.
Yes. The law caps the annual graduate loan limits at $20,500 for graduate students and $50,000 for professional students. The aggregate limit is capped at $100,000 for graduate students and $200,000 for professional students.
Yes. There will be a $257,500 borrowing cap on all federal student loans, excluding Parent PLUS loans.
The new annual, aggregate, and lifetime federal loan limits take effect on July 1, 2026. If a borrower has a Federal Direct Loan made before July 1, 2026, while enrolled in a credentialed program, the borrower can continue to borrow under current loan limits for 3 academic years or the remainder of their expected time to credential, whichever is less.