Fall 2026: Financial Aid News Flash

Fall is here, and there are a few important financial aid updates to keep on your radar. From filing your 2027–2028 FAFSA to understanding new federal student loan rules, here’s what undergraduate students and families need to know.

File Your 2027–2028 FAFSA by November 15

The 2027–2028 Free Application for Federal Student Aid (FAFSA) opens October 1, 2026. Pace’s priority submission deadline is November 15, 2026.

Before you get started:

• Create your FSA ID. If you do not already have one, create an account on the Federal Student Aid website.
• Use your legal information. First-time filers should have their Social Security number ready and enter their legal name exactly as it appears on their Social Security card.
• Submit by November 15. Filing by Pace’s priority deadline helps ensure you are considered for all financial aid for which you may be eligible.
• Need help? A 2027–2028 FAFSA walkthrough is coming soon. In the meantime, visit the Pace Financial Aid YouTube channel for helpful videos and resources.

New Federal Student Loan Limits Are Now in Effect

New federal student loan limits took effect July 1, 2026. Some continuing students and families may qualify for a legacy exception, allowing them to continue borrowing under the previous federal loan limits.

You may qualify for the legacy exception if you were enrolled in your current program and received a Direct Loan before July 1, 2026.

To maintain legacy eligibility:

• You must remain enrolled in the same program at the same school without interrupting your enrollment.
• Taking a Leave of Absence may cause you to lose legacy eligibility.
• You must complete your program within its published length.

If you do not qualify for the legacy exception, the new federal loan limits will apply.

For example, Parent PLUS Loans are now limited to $20,000 per year for each dependent undergraduate student, with a $65,000 lifetime limit.

If your parent borrowed a Parent PLUS Loan before July 1, 2026, they may be able to continue borrowing under the previous rules, up to the full cost of attendance minus other financial aid, for up to three additional years or until you graduate, whichever comes first.

Other Federal Student Loan Changes

There are also two important changes to how federal student loans are distributed:

• You can no longer receive more than half of your annual federal student loan eligibility in a single semester.
• If you enroll less than full-time, federal student loans other than Parent PLUS Loans will be reduced based on your credit load.

Complete Your 2026–2027 Financial Aid Requirements

Still have outstanding financial aid requirements for the current academic year? Log in to your Pace Portal and complete any remaining 2026–2027 financial aid requirements as soon as possible. Outstanding requirements can delay the processing or disbursement of your financial aid.

Don’t Lose Financial Aid Over Attendance

Federal financial aid eligibility is tied to your attendance and participation in your courses. To protect your eligibility:

• Attend and participate in all your registered classes.
• Pay attention to any attendance-related communications from Pace.
• Respond promptly if there is an issue with your enrollment.

Professors are required to verify attendance during the semester. If you do not attend or participate in a course, you may be dropped for non-attendance, and your financial aid may be adjusted accordingly.

Check Your Pace Email

Your Pace email is one of the most important ways the Financial Aid Office communicates with you. If you receive a message that requires action, respond as soon as possible. Check it regularly for:

• Outstanding financial aid requirements
• FAFSA updates
• Changes to your aid
• Requests for additional information
• Important deadlines

Contact the Financial Aid Office

Need help? The Financial Aid Office is available Monday–Friday, 9:00 a.m.–5:00 p.m. Reach out via phone at (877) 672-1830, submit a Help Desk ticket, or schedule an appointment.