Student aid and college costs

The calculators, in the order most families need them

1. 1. Apply and see your needFAFSA SAI CalculatorYour Student Aid Index and Pell Grant from the Department of Education's own formula. Cost of attendance minus SAI is your need.
2. 2. See what you can borrow, and the gapStudent Loan Limits CalculatorFederal loan limits since July 1, 2026 for undergraduates, graduate and professional students and parents, and what is left to cover.
3. 3. See what repayment costsRAP vs. IBR vs. Standard CalculatorThe Repayment Assistance Plan, income-based repayment and the standard plans compared for your balance and income.

Guides

• Grad PLUS Is Gone: What You Can Borrow for Law, Medical or Graduate School NowSince July 1, 2026 graduate students can borrow $20,500 a year and professional students $50,000, with no Grad PLUS above that. For a three-year law degree at $95,000 a year, more than $135,000 has to come from somewhere else. The limits, the worked cases and what the transition exception covers.
• The Repayment Assistance Plan (RAP): What You'd Pay at Each Income, and Where the Payment JumpsRAP payments are 1% to 10% of income, and the rate applies to your whole income, so it rises a point at each $10,000: one dollar of AGI over $60,000 adds $50 a month. The 2026 table, what the interest waiver and principal match do, and the income at which the Tiered Standard plan costs less each month.

What has changed, and where it is written down

• The 2027–28 FAFSA is available. It covers study from July 1, 2027 to June 30, 2028 and uses your 2025 tax return.

  Federal Student Aid, announcement dated September 23, 2026

• Graduate and professional students can no longer borrow Grad PLUS loans, with an exception for students already borrowing for their program on June 30, 2026. Graduate students are limited to $20,500 a year and $100,000; professional students to $50,000 a year and $200,000; and a student's lifetime limit is $257,500.

  34 CFR 685.200 and 685.203, Department of Education final rule of May 1, 2026

• Parent PLUS loans are capped at $20,000 a year and $65,000 per student, and Parent PLUS loans cannot be repaid under RAP.

  34 CFR 685.203(f), (g) and 685.209(d)

• The Repayment Assistance Plan started July 1, 2026. Loans made on or after that date can use only RAP or the Tiered Standard plan (10 to 25 years, by balance).

  34 CFR 685.208 and 685.209

• Federal loan rates for 2026–27 are 6.52% (undergraduate), 8.07% (graduate and professional) and 9.07% (PLUS), with fees of 1.057% and 4.228%.

  Federal Student Aid electronic announcements, June 4 and May 13, 2026

• The maximum Pell Grant for 2026–27 is $7,395. A student whose SAI is twice that or more ($14,790) cannot receive Pell.

  Federal Student Aid Dear Colleague Letter GEN-26-01