Federal Aid Changes

One Big Beautiful Bill Act: Changes to Federal Student Aid

The One Big Beautiful Bill Act (OB3), signed July 4, 2025, introduces major changes to federal student loans beginning July 1, 2026. The updates primarily affect graduate and professional students and parents of dependent undergraduates. Guidance may be updated prior to implementation.

current undergraduate student

Current Undergraduate Student

You are currently enrolled in an undergraduate program and will continue in the 2026-27 academic year

prospective students visiting UM

Future Undergraduate Student

You are starting an undergraduate program in the Fall of 2026 or later

Current Graduate Student

Current Graduate Student

You are currently enrolled in a graduate or professional program and will continue in the 2026-27 academic year

Future Graduate Student

Future Graduate Student

You are starting a graduate or professional program in the Fall of 2026 or later

two students under a tree

Borrower Currently In School

You are currently in school and haven't started repaying your loans yet

borrower student looking at computer screen

Borrower Currently In Repayment

You're currently repaying your student loans or are in deferment/forbearance