One Big Beautiful Bill Act
The passage of the One Big Beautiful Bill Act (OB3), effective beginning July 1st, 2026, brings major changes to student loan programs at institutions of higher education.
Listed below are highlights of the most critical changes that will affect student loan borrowers enrolled at Rowan College of South Jersey.
Loan Request Forms
Beginning with the Summer 2026 semester, student loans, both subsidized and unsubsidized, will not be automatically awarded to student’s accounts. All borrowers must request a loan by filling out a paper loan request form for the appropriate semester.
Proration of Federal Direct Loans for Students Enrolled Less Than Full Time
Beginning July 1st, 2026, all schools are required to prorate student loan maximum eligibility for students enrolled less than full time (12 credits in a single semester). The prorated loan amount will be based on the number of credits a student is enrolled in at the time the loan is disbursed. This change may result in lower loan amounts than received in the past if you are enrolled less than full-time.
Annual and Lifetime Limits for Federal Direct Parent Plus Loans
Beginning July 1st, 2026, the annual limit for PLUS loan borrowers is capped at up to $20,000 per year per student. Parents will also be limited to borrowing a maximum of $65,000 per student.