Federal Loan Update:
The One Big Beautiful Bill Act (OBBBA), passed in July 2025, made significant changes to federal student and parent loan regulations, and the legislation is set to go into effect for the 2026–2027 academic year. Key changes effective July 1, 2026, include the phase-out of Graduate PLUS Loans, new loan limits for graduate students, new limits for Parent PLUS Loans and the introduction of new federal loan repayment plans. We are currently awaiting official guidance from the Department of Education.
This website will be updated as new or additional information becomes available.
What Are Student Loans?
Student loans, unlike grants and student employment, are borrowed money that must be repaid, with interest. When you apply for financial aid, your aid package will likely include student loans. It’s important to understand what types of loans you are offered. Generally, there are two types of student loans:
- Federal student loans - These loans are funded by the federal government.
- Private student loans - These loans are non-federal loans, made by a lender such as a bank or credit union.
Borrowing loans is a huge responsibility. It is important you understand the responsibilities and obligations as a student loan borrower. The more informed you are now, the more prepared you will be in the future and knowing what you owe as a student loan borrower is an important step.
Federal Student Aid (FSA) is the U.S. Department of Education’s centralized database of all federal student and parent loans. All information pertaining to federal student and parent loans will be submitted to Federal Student Aid. FSA provides an overview of all federal student and parent loans, loan amounts, enrollment status, loan servicer, outstanding balances, loan status and disbursements pertaining to a borrower. This information will also be accessible by guaranty agencies, lenders, and schools determined to be authorized users of the data system.
If you would like additional information and resources regarding loan delinquency and default, please visit our delinquency and default information page. We describe what these terms mean and offer suggestions on steps to take to remain on track with loan repayment to avoid default.
Some students consider consolidating or refinancing their loans once they enter repayment. We offer a resource to describe the differences between loan consolidation and loan refinance, as well as the pros and cons for these processes.
Federal Student Loan Options
Find In SiS:
- View Scheduled Disbursement Dates for Loans
- View Loan Details (Application, Status, Loan Fee, Amount, Net Amount, Activity Date)