Financial Aid News
Federal Loan Program Updates
(Effective July 1, 2026)
The federal government has implemented several changes to federal student loan
Undergraduate Students
- Parent PLUS Loan Limits: New Parent PLUS Loan borrowers are limited to
$20,000 annually per undergraduate student and a $65,000 lifetime maximum per student. - Legacy Parent PLUS Borrowers: Parents who received a PLUS Loan for the
same dependent student prior to July 1, 2026, may qualify for continued borrowing under legacy provisions, subject to federal requirements. - Enrollment-Based Loan Reductions: Federal Direct Subsidized and
Unsubsidized Loan eligibility may be reduced for students who enroll less than full-time or do not complete sufficient credits during the academic year. - Annual Credit Requirement: Undergraduate students must complete 24
credits during the academic year to maintain full annual federal loan eligibility.
Graduate Students
- Graduate Loan Changes: Graduate annual unsubsidized direct loan
borrowing remains at $20,500. Graduate students in the pharmacy and clinical psychology programs may borrow up to $50,000 annually in unsubsidized direct loans. New borrowers have a lifetime loan limit on all federal student loans of $100,00, including undergraduate loans. Graduate students in the pharmacy and clinical psychology programs have a lifetime loan limit on all federal student loans of $200,000, including undergraduate loans. - Graduate Plus Loan Program: The Graduate Plus Loan program has been
eliminated for new borrowers or borrowers changing programs. - Legacy Graduate PLUS Borrowers: Graduate students who received a
Graduate PLUS Loan prior to July 1, 2026, may qualify for continued borrowing under legacy provisions, subject to federal requirements - Enrollment-Based Loan Reductions: Federal Direct Unsubsidized Loan
eligibility may be reduced for graduate students who enroll less than full-time or do not complete sufficient credits during the academic year. - Annual Credit Requirement: Graduate students must complete 18 credits
during the academic year to maintain full annual federal loan eligibility.
For complete details regarding federal loan eligibility, borrowing limits, interest
Federal Direct Loan Borrowers
All students who are receiving Direct Loans for the first time at FDU must complete Entrance Counseling and a Master Promissory Note before their loan funds can be disbursed. You may complete it online anytime, anywhere at studentaid.gov/. It will take about 20-30 minutes to complete the session. We will receive confirmation in approximately 3-4 days after completion. All loans must be accepted on Self Service through Self-Service in addition to completing your Master Promissory Note and Entrance Counseling.
How to Accept or Decline Your Financial Aid on Self-Service
In order to accept your financial aid award, you will log in to your Self-Service account. Click the student tab. Go to the Financial Aid section (third item down on the left side). Click on the last item, “Financial Aid Self-Service.” Select the Financial Aid tab at the top. In the drop-down, choose “My Awards.” Take the action of accepting or rejecting the available aid.
New Jersey Residents
Are you an NJ resident who has applied for financial aid? If so, please be aware of the following deadlines for submitting a FAFSA and state grant records (Applicant Information Requests (AIR), State verification, corrections, etc.) to the Higher Education Student Assistance Authority (HESAA). HESAA determines your eligibility for the Tuition Aid Grant (TAG), Governor’s Urban Scholarship, NJ STARS, and NJ STARS II programs. You can find more information and log in to your account at www.njgrants.org.
Deadlines
Download Deadlines and Payment Processing Calendar for the 2025-2026 Academic Year for all state aid programs.
New Jersey Dreamers
For the Academic Year 2025-2026, NJ Dreamers are required to meet the same deadlines as above for Renewal or New Students. In lieu of the FAFSA, however, NJ Dreamers need to complete the NJ Alternative Application for Financial Aid.