To learn more, expand your student type below
New to UW or returning after a break? Select an Incoming student type.
Enrolled at UW in spring or summer 2026 and continuing in the same program? Select a Continuing student type.
The new OBBBA rules generally apply to this group of students.
Federal Direct Loans
Incoming and transfer undergraduate students will adhere to the new Federal Direct Loan limits as shown in the table below.
|
Dependent Students (except students whose parents are unable to obtain a PLUS loan) |
Independent Students (and dependent undergraduate students whose parents are unable to obtain a PLUS loan) |
|
|
First-Year Undergraduate Annual Loan Limit
|
$5,500 No more than $3,500 of this amount may be in subsidized loans |
$9,500 No more than $3,500 of this amount may be in subsidized loans |
| Second-Year Undergraduate Annual Loan Limit |
$6,500 No more than $4,500 of this amount may be in subsidized loans |
$10,500 No more than $4,500 of this amount may be in subsidized loans |
| Third-Year and Beyond Undergraduate Annual Loan Limit |
$7,500 No more than $5,500 of this amount may be in subsidized loans |
$12,500 No more than $5,500 of this amount may be in subsidized loans |
| All undergraduate students Aggregate Loan Limit |
$31,000 No more than $23,000 of this amount may be in subsidized loans |
$57,500 No more than $23,000 of this amount may be in subsidized loans |
| Lifetime Loan Limit (NEW) |
$257,500 |
$257,500 |
Loan Limit Definitions:
Annual: The maximum amount that can be borrowed in one academic year.
Aggregate: The maximum amount that can be borrowed and owed at one time. If part of a loan is repaid, additional borrowing may become available.
Lifetime: The maximum amount that can be borrowed over a lifetime, regardless of how much has been repaid, of all federal direct loan types excluding Parent PLUS.
Parent PLUS Loans
Parents may borrow up to $20,000 per year per child, with an aggregate loan limit of $65,000 per child, by borrowing a Federal Parent PLUS Loan. If more than one parent borrows on behalf of the same student, the parents share these limits. Parents cannot qualify for more than $65,000 aggregately even if they repay part of the loan.
The lifetime limit in the table above excludes this type of loan. This type of loan is also exempt from the Schedule of Reduction (see below), but if a student's Cost of Attendance is reduced because they're enrolled less than full-time, the PLUS loan may also be reduced.
Schedule of Reduction (SOR) for Loans
Federal Direct Loan amounts are based on a student's enrollment status, which is determined by their student type and program of study. Students enrolled less than full-time will have their annual loan amount reduced. Students must be enrolled at least half-time to qualify for a Federal Direct Loan (normally 6 credit hours for undergraduate students).
- Full-time example: A dependent freshman student enrolled in at least 12 credit hours for fall and spring semesters will be able to borrow $2,750 each semester (total of $5,500).
- Part-time example: A dependent freshman student enrolled in 6 credit hours for fall and spring semester will only be able to borrow up to 50% of the loan limit for each semester, or $1,375. (Calculation: 6 hrs / 12 hours = 50%, $2,750 * 50% = $1,375)
Pell Grant
Students may be ineligible for a Pell Grant if the full Cost of Attendance is covered with non-federal grants and scholarships or if the student's Student Aid Index (SAI), provided as part of the FAFSA completion, is greater than twice the maximum Pell Grant.
Many students currently enrolled at UW as of spring and summer 2026 semesters, who have previously borrowed Federal Direct Loans, will be eligible for legacy provisions. Students who do not qualify for the legacy provisions - including those returning to UW after a break in enrollment - should review the changes outlined in the Incoming Undergraduate Students section above.
What are legacy provisions?
If eligible, these allow continuing students or parents to borrow under the prior federal loan rules and loan limits for a time-limited exception*. Legacy eligibility is automatically applied if a student qualifies, and it is defined by federal law and cannot be waived or declined.
Legacy Provisions Qualifications
- Student has borrowed a Federal Direct Loan on or before June 30, 2026 while an undergraduate student regardless of major/program changes, AND
- Student is currently enrolled at UW as of June 30, 2026 (either spring 2026 semester or summer 2026 semester, as long as the summer class started before June 30), AND
- Student must be within their expected time to complete the program (*the shorter of three academic years or the remaining program length). The calculation
is based on:
- The determined length of the student's academic program.
- The number of academic terms the student has completed in that program.
- For transfer students only, the number of credits they have earned toward their degree as of Spring 2026.
- For this calculation's, each completed academic term counts, regardless of enrollment intensity or whether the student received federal financial aid during that term.
Federal Direct Loans
Continuing undergraduate students will adhere to the new Federal Direct Loan limits as shown in the table below.
|
Dependent Students (except students whose parents are unable to obtain a PLUS loan) |
Independent Students (and dependent undergraduate students whose parents are unable to obtain a PLUS loan) |
|
| First-Year Undergraduate Annual Loan Limit |
$5,500 No more than $3,500 of this amount may be in subsidized loans |
$9,500 No more than $3,500 of this amount may be in subsidized loans |
| Second-Year Undergraduate Annual Loan Limit |
$6,500 No more than $4,500 of this amount may be in subsidized loans |
$10,500 No more than $4,500 of this amount may be in subsidized loans |
| Third-Year and Beyond Undergraduate Annual Loan Limit |
$7,500 No more than $5,500 of this amount may be in subsidized loans |
$12,500 No more than $5,500 of this amount may be in subsidized loans |
| All undergraduate students Aggregate Loan Limit |
$31,000 No more than $23,000 of this amount may be in subsidized loans |
$57,500 No more than $23,000 of this amount may be in subsidized loans |
| Lifetime Loan Limit (NEW) |
$257,500 |
$257,500 |
Loan Limit Definitions:
Annual: The maximum amount that can be borrowed in one academic year.
Aggregate: The maximum amount that can be borrowed and owed at one time. If part of a loan is repaid, additional borrowing may become available.
Lifetime: The maximum amount that can be borrowed over a lifetime, regardless of how much has been repaid, of all federal direct loan types excluding Parent PLUS.
Parent PLUS Loans
If a student qualifies for legacy provision, a parent may borrow up to Cost of Attendance per year per child by borrowing a Federal Parent PLUS Loan.
The lifetime limit in the table above excludes this type of loan. This type of loan is also exempt from the Schedule of Reduction (see below), but if a student's Cost of Attendance is reduced because they're enrolled less than full-time, the PLUS loan may also be reduced.
Schedule of Reduction (SOR) for Loans
Federal Direct Loan amounts are based on a student's enrollment status, which is determined by their student type and program of study. Students enrolled less than full-time will have their annual loan amount reduced. Students must be enrolled at least half-time to qualify for a Federal Direct Loan (normally 6 credit hours for undergraduate students).
- Full-time example: A dependent freshman student enrolled in at least 12 credit hours for fall and spring semesters will be able to borrow $2,750 each semester (total of $5,500).
- Part-time example: A dependent freshman student enrolled in 6 credit hours for fall and spring semester will only be able to borrow up to 50% of the loan limit for each semester, or $1,375. (Calculation: 6 hrs / 12 hours = 50%, $2,750 * 50% = $1,375)
Pell Grant
Students may be ineligible for a Pell Grant if the full Cost of Attendance is covered with non-federal grants and scholarships or if the student's Student Aid Index (SAI), provided as part of the FAFSA completion, is greater than twice the maximum Pell Grant.
The new OBBBA rules generally apply to this group of students.
Federal Direct Loans
Incoming and transfer graduate students, who are not in professional programs, will adhere to the new Federal Direct Loan limits as shown in the table below.
| Unsubsidized Loans | Graduate PLUS Loans | |
| Annual Loan Limit |
$20,500 |
No longer available to new borrowers |
| Aggregate Loan Limit |
$100,000
|
N/A
|
| Lifetime Loan Limit (NEW) |
$257,500
|
N/A
|
Loan Limit Definitions:
Annual: The maximum amount that can be borrowed in one academic year.
Aggregate: The maximum amount that can be borrowed and owed at one time. If part of a loan is repaid, additional borrowing may become available.
Lifetime: The maximum amount that can be borrowed over a lifetime, regardless of how much has been repaid, of all federal direct loan types excluding Parent PLUS received as an undergraduate student.
Schedule of Reduction (SOR) for Loans
Federal Direct Loan amounts are based on a student's enrollment status, which is determined by their student type and program of study. Students enrolled less than full-time will have their annual loan amount reduced. Students must be enrolled at least half-time to qualify for a Federal Direct Loan.
- Full-time example: A graduate student enrolled in at least 9 credit hours for fall and spring semesters will be able to borrow $10,250 each semester (total of $20,500).
- Part-time example: A graduate student enrolled in 4.5 credit hours for fall and spring semester will only be able to borrow up to 50% of the loan limit for each semester, or $5,125. (Calculation: 4.5 hrs / 9 hours = 50%, $10,250 * 50% = $5,125)
Many graduate students currently enrolled at UW as of spring and summer 2026 semesters, who have previously borrowed Federal Direct Loans, will be eligible for legacy provisions. Students who do not qualify for the legacy provisions - including those returning to UW after a break in enrollment - should review the changes outlined in the Incoming Graduate Students section above.
What are legacy provisions?
If eligible, these allow continuing graduate students, who are not in professional programs, to borrow under the prior federal loan rules and loan limits for a time-limited exception*. Legacy eligibility is automatically applied if a student qualifies, and it is defined by federal law and cannot be waived or declined.
Legacy Provisions Qualifications
- Student has borrowed a Federal Direct Loan on or before June 30, 2026 while in their current graduate program at the University of Wyoming, AND
- Student is currently enrolled at UW as of June 30, 2026 (either spring 2026 semester or summer 2026 semester, as long as the summer class started before June 30), AND
- Student must be within their expected time to complete the program (*the shorter of three academic years or the remaining program length). The calculation
is based on:
- The determined length of the student's academic program.
- The number of academic semesters the student has completed in that program.
- For transfer students only, the number of credits they have earned toward their degree as of Spring 2026.
- For this calculation, each completed academic term counts, regardless of enrollment intensity or whether the student received federal financial aid during that term.
Federal Direct Loans
Continuing graduate students, who are not in professional programs, will adhere to the new Federal Direct Loan limits as shown in the table below.
| Unsubsidized Loans | Graduate PLUS Loans | |
| Annual Loan Limit |
$20,500 |
Can borrow up to Cost of Attendance (COA) |
| Aggregate Loan Limit |
$138,500 |
No aggregate limit |
| Lifetime Loan Limit (NEW) |
$257,500 |
|
Loan Limit Definitions:
Annual: The maximum amount that can be borrowed in one academic year.
Aggregate: The maximum amount that can be borrowed and owed at one time. If part of a loan is repaid, additional borrowing may become available.
Lifetime: The maximum amount that can be borrowed over a lifetime, regardless of how much has been repaid, of all federal direct loan types excluding Parent PLUS received as an undergraduate student. This lifetime limit will not apply until continuing students who qualify for legacy status have exhausted that status.
Schedule of Reduction (SOR) for Loans
Federal Direct Loan amounts are based on a student's enrollment status, which is determined by their student type and program of study. Students enrolled less than full-time will have their annual loan amount reduced. Students must be enrolled at least half-time to qualify for a Federal Direct Loan. SOR will apply to both an unsubsidized loan and a Grad PLUS loan (if student has legacy status).
- Full-time example: A graduate student enrolled in at least 9 credit hours for fall and spring semesters will be able to borrow $10,250 each semester (total of $20,500).
- Part-time example: A graduate student enrolled in 4.5 credit hours for fall and spring semester will only be able to borrow up to 50% of the loan limit for each semester, or $5,125. (Calculation: 4.5 hrs / 9 hours = 50%, $10,250 * 50% = $5,125)
The new OBBBA rules generally apply to this group of students.
Federal Direct Loans
Incoming students in professional programs will adhere to the new Federal Direct Loan limits as shown in the table below. Professional programs*, as defined by the Department of Education, offered at the University of Wyoming include:
- Law (J.D.)
- Pharmacy (Pharm.D.)
A recent federal court order temporarily enjoined the U.S. Department of Education's (ED) new rule limiting academic programs that qualify for professional-level Federal Direct Unsubsidized Loan limits. Subsequent to this court order, ED issued new guidance that extends this designation to other programs. This guidance is temporary while litigation continues, and we are meeting with students enrolled in these other programs to discuss potential impacts on future loan eligibility.
| Unsubsidized Loans | Graduate PLUS Loans | |
| Annual Loan Limit |
$50,000 |
No longer available to new borrowers |
| Aggregate Loan Limit |
$200,000
|
N/A
|
| Lifetime Loan Limit (NEW) |
$257,500
|
N/A
|
Loan Limit Definitions:
Annual: The maximum amount that can be borrowed in one academic year.
Aggregate: The maximum amount that can be borrowed and owed at one time. If part of a loan is repaid, additional borrowing may become available.
Lifetime: The maximum amount that can be borrowed over a lifetime, regardless of how much has been repaid, of all federal direct loan types excluding Parent PLUS received as an undergraduate student.
Schedule of Reduction (SOR) for Loans
Federal Direct Loan amounts are based on a student's enrollment status, which is determined by their student type and program of study. Students enrolled less than full-time will have their annual loan amount reduced. Students must be enrolled at least half-time to qualify for a Federal Direct Loan.
- Full-time example: A professional pharmacy student enrolled in at least 12 credit hours for fall and spring semesters will be able to borrow $25,000 each semester (total of $50,000).
- Part-time example: A professional pharmacy student enrolled in 6 credit hours for fall and spring semester will only be able to borrow up to 50% of the loan limit for each semester, or $10,250. (Calculation: 6 hrs / 12 hours = 50%, $25,000 * 50% = $10,250)
Many students currently enrolled at UW in professional programs as of spring and summer 2026 semesters, who have previously borrowed Federal Direct Loans, will be eligible for legacy provisions. Students who do not qualify for the legacy provisions - including those returning to UW after a break in enrollment - should review the changes outlined in the Incoming Professional Students section above.
Professional programs*, as defined by the Department of Education, offered at the University of Wyoming include:
- Law (J.D.)
- Pharmacy (Pharm.D.)
A recent federal court order temporarily enjoined the U.S. Department of Education's (ED) new rule limiting academic programs that qualify for professional-level Federal Direct Unsubsidized Loan limits. Subsequent to this court order, ED issued new guidance that extends this designation to other programs. This guidance is temporary while litigation continues, and we are meeting with students enrolled in these other programs to discuss potential impacts on future loan eligibility.
What are legacy provisions?
If eligible, these allow continuing graduate students, who are in professional programs, to continue borrowing under the prior federal loan rules and loan limits for a time-limited exception. Legacy eligibility is automatically applied if a student qualifies, and it is defined by federal law and cannot be waived or declined.
Legacy Provisions Qualifications
- Student has borrowed a Federal Direct Loan on or before June 30, 2026 while in their current graduate program at the University of Wyoming, AND
- Student is currently enrolled at UW as of June 30, 2026 (either spring 2026 semester or summer 2026 semester, as long as the summer class started before June 30), AND
- Student must be within their expected time to complete the program (*the shorter of three academic years or the remaining program length). The calculation
is based on:
- The determined length of the student's academic program.
- The number of academic semesters the student has completed in that program.
- For transfer students only, the number of credits they have earned toward their degree as of spring 2026.
- For this calculation, each completed academic term counts, regardless of enrollment intensity or whether the student received federal financial aid during that term.
| Unsubsidized Loans | Graduate PLUS Loans | |
| Annual Loan Limit |
$50,000 |
Can borrow up to Cost of Attendance (COA) |
| Aggregate Loan Limit |
$200,000
|
No aggregate limit
|
| Lifetime Loan Limit (NEW) |
$257,500 |
|
Loan Limit Definitions:
Annual: The maximum amount that can be borrowed in one academic year.
Aggregate: The maximum amount that can be borrowed and owed at one time. If part of a loan is repaid, additional borrowing may become available.
Lifetime: The maximum amount that can be borrowed over a lifetime, regardless of how much has been repaid, of all federal direct loan types excluding Parent PLUS received as an undergraduate student. This lifetime limit will not apply until continuing students who qualify for legacy status have exhausted that status.
Schedule of Reduction (SOR) for Loans
Federal Direct Loan amounts are based on a student's enrollment status, which is determined by their student type and program of study. Students enrolled less than full-time will have their annual loan amount reduced. Students must be enrolled at least half-time to qualify for a Federal Direct Loan. SOR will apply to both an unsubsidized loan and a Grad PLUS loan (if student has legacy status).
- Full-time example: A professional pharmacy student enrolled in at least 12 credit hours for fall and spring semesters will be able to borrow $25,000 each semester (total of $50,000).
- Part-time example: A professional pharmacy student enrolled in 6 credit hours for fall and spring semester will only be able to borrow up to 50% of the loan limit for each semester, or $10,250. (Calculation: 6 hrs / 12 hours = 50%, $25,000 * 50% = $10,250)
Repayment Plans
We suggest reviewing Federal Student Aid's website about payment plan options, but we have summarized the changes from OBBBA below:
Student Borrowers
After a student graduates, drops below half-time enrollment status, or leaves school, they are required to repay their federal student loans under a chosen repayment plan.
We encourage any borrower who is currently in repayment of their federal loans to contact their loan servicer and discuss how these changes may impact their situation. This website provides a high-level overview, and there may be other details a current borrower in repayment will want to consider before deciding how to proceed. You can find more information on Student Financial Aid's website.
What Changed on July 1, 2026
- Some existing repayment plans will end (ICR, PAYE, and SAVE).
- A new income based repayment plan (Repayment Assistance Plan, or RAP) will be created. Payments under this plan will
be determined based upon several factors:
- payments may be as low as $10/month,
- adjusted for dependents,
- and possibly forgiven after 30 years of payments.
- A new standard repayment plan will be created. Payments under this plan will have 4 fixed terms of 10, 15, 20, or 25 years (based on the amount borrowed).
What This Means for You
- 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 standards payment plan.
Parent Borrowers
Parent borrowers may choose to defer payments until six months after their student graduates, leaves school, or drops below half-time enrollment status. Otherwise, payments begin once the loan is fully disbursed (paid out) unless you request a deferment.
We encourage any borrower who is currently in repayment of their federal loans to contact their loan servicer and discuss how these changes may impact their situation. This website provides a high-level overview, and there may be other details a current borrower in repayment will want to consider before deciding how to proceed.
What Changed on July 1, 2026
- A new standard repayment plan will be created. Payments under this plan will have 4 fixed terms of 10, 15, 20, or 25 years (based on the amount borrowed).
What This Means for You
- 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 to choose from.
Other Loan Changes
The OBBBA also included some changes about consolidation loans, deferment options, and forbearance that we will provide in the future as ED clarifies details. At this time, those will not be effective until July 1, 2027.
Additional Provisions of OBBBA
FAFSA Asset Exemptions: Starting with the FAFSA for aid year 2026-2027, the exemptions for assets of a family farm and a family-owned small business in the SAI calculation will be reinstated. Additionally, those asset exemptions will be expanded to include family-owned commercial fisheries.
Foreign Income for Pell Eligibility: Starting with the FAFSA for aid year 2026-2027, foreign income is required to be included in the Adjusted Gross Income (AGI) used to calculate Pell Grant eligibility.
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