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Effective July 1, 2026, Graduate PLUS Loans Are Ending
The One Big Beautiful Bill Act (referred to as OB3) included changes that will affect students who begin Fall 2026 term as a NEW or RETURNING student. In the past, graduate and professional students could use federal Graduate PLUS loans to cover costs beyond their standard federal loan eligibility. Under the new law, Graduate PLUS loans will no longer be available.
OB3 Changes:
• New loan limits
• Types of federal loans available to borrowers
Federal loans may no longer cover your full cost of attendance, and you may need to consider
private funding options. We have several lenders available, visit our website for additional information.
Current Students
Also called Legacy Borrowers, students enrolled in RMU program before July 1, 2026 are eligible to receive federal student loans.
It is important to note that switching programs, withdrawal or exceeding the minimum program length will remove legacy status.
Types of Loans Available
Students who receive a Direct Loan (Unsubsidized or Grad PLUS) prior to July 1, 2026, will retain the ability to receive these loans.
Loan Limit – $138,500 limit of Unsubsidized/Subsidized loans
Grad PLUS loans will be available until current program is completed, or 2029, whichever comes first.
Grad PLUS loans limited per semester
Switching or withdrawing from a program or enrolling beyond the minimum program length will remove legacy status.
New/Re-entry Students
Any students enrolling or returning to a program after July 1, 2026 falls into this category.
Types of Loans Available
- Direct Unsubsidized Loan (up to $10,250/semester, basic eligibility requirements apply)
Professional programs (Doctor of Optometry) can receive up to $20,500/semester - Private Loans
New Limits on How Much You Can Borrow
The new law also places limits on how much students can borrow through federal loans, each year and over a lifetime:.
Graduate Programs
$30,750 annual limit (3 semesters)
$100,000 maximum limit (RMU loans + prior grad study loans)
$157,000 lifetime limit
Professional Program (Doctor of Optometry)
$61,500 annual limit (3 semesters)
$200,000 maximum limit (RMU loans + prior grad study loans)
$257,000 lifetime limit
Because of these limits, it’s important to look carefully at the full cost of your program, including
tuition, fees, books, equipment, and living expenses. If your costs exceed federal loan limits, you may need to plan for other funding sources such as scholarships, employer support, savings, or private loans.
Repayment Options Will Be More Limited for Future Loans
For loans first paid out on or after July 1, 2026, repayment rules will also change. There will be
fewer income-based repayment options, fewer ways to temporarily pause payments, and, in
many cases, longer paths to loan forgiveness.
This makes borrowing decisions more important than ever. It’s not just about how much you
need now, but how manageable repayment will be later. The Financial Aid Office can help you
estimate what repayment might look like based on expected income in your field.
What We Recommend
- Review your full cost of attendance; including institutional charges (tuition, fees, books and supplies) as well as personal expenses (housing, groceries and transportation)
- List all funding sources you’re eligible for (federal loans, scholarships, private loans, etc.)
- Compare your expenses versus borrowing options and begin exploring alternative funding if needed
We are here to help! If you have remaining questions or concerns, please reach out via email to fa@rm.edu.
RMU is committed to cost transparency!
We are one of 200+ higher education institutions currently committed to the following principles & standards of the College Cost Transparency Act (CCT). Learn more about financial aid disbursement and tuition/fee information.
Federal Student Loans
Most of RMU’s graduate programs are eligible for Federal Direct Student Loans. Eligibility for federally-funded financial aid is established by the U.S. Department of Education.
Private Student Loans
Private student loans are an alternative to federal financial aid and are, therefore, NOT part of the federal student loan program. They are offered by credit unions and third-party lending institutions.
Scholarships
RMU offers internal scholarships. We recommend you apply to any for which you are eligible. Our Financial Aid Office is also available to help you search for external scholarships.
VA Benefits
We care about our veterans. Our Financial Aid Office can help you understand and connect you with any resource available to you.
Financial Aid Office Mission
The Financial Aid Office at RMU strives to provide the highest quality service to graduate and professional students in pursuit of their academic goals. We serve as the primary advocate for students and families, assisting them in securing necessary financial resources. We will utilize our expert knowledge to update our technologies, streamline processes, maintain full compliance with federal mandates, and effectively manage financial aid resources. We are committed to providing exemplary service to our students, families, the university community, and the community at large. Our philosophy is service.
Financial Aid Team
Maria Sager
Assistant Vice President, Financial Aid Services
Alex Jackson
Associate Director, Outreach and Development
VA, School Certifying Official
Krista McEntire
Director of Financial Aid
Advises – College of Optometric Medicine
Leslie Garcia
Manager, Financial Aid Scholarships and Grants
Lauren Pickering
Senior Financial Aid Advisor Advises – College of Health Science (DMSc, MMSc, Nursing, PhD, Professional Counseling)
Kaila Sharo
Senior Financial Aid Advisor Advises – College of Rehabilitation Science (DPT, MOT, MS-SLP, OTD, SLPD, tDPT)
Madeline Pickering
Financial Aid Records Specialist
Important Information
Read about consumer information, rights and responsibilities, and student loan repayment information.
Cares Act Information 2020
What is the federal CARES Act?
How much money did RMU receive?
The CARES Act allocated nearly $14 billion to support colleges and universities around the country. RMU will received $223,276. The Department of Education guidelines require at least 50% of received funds be used to provide emergency cash grants for students. RMUoHP intended to put 100% of the funds toward emergency aid for students.
Why did RMU receive these funds?
Why did every school receive a different amount? What factors were considered by the Department of Education?
What direction did RMU receive in determining how to allocate the funds?
How did RMU determine where to use the funds?
Which students received CARES Act money?
All students who received this funding were federal financial aid-eligible. To be eligible for funding consideration, you needed to have:
- Been enrolled in at least 3 credits during 2020
- Completed the 2019-2020 and/or 2020-2021 FAFSA and were eligible to receive federal financial aid.
- Completed the Higher Education Emergency Relief Fund application by the deadlines of May 15th, 2022 (for the first half of the CARES Act funds) and November 4, 2020 (for the second half of the CARES Act funds).
If awarded, how were students notified and how did they receive the funds?
Note: The CARES Act funds allocated to RMU in the amount of $223,267 were fully disbursed to awardees as of December 15, 2020.
Eligible students were notified via their RMU email accounts. Awards were disbursed via direct deposit on June 5th and November 20th.
A full report of the allocation of CARES Act funds is available in the link above (“30 Day Report”).
Did students have any limitations on how they could spend the money?
Higher Education Emergency Relief Fund (HEERF) 2021– General Information
Rocky Mountain University of Health Professions Statement (RMU)
d)Higher Education Emergency Relief Fund (HEERF) II:
On December 27, 2020, the Coronavirus Response Relief Supplemental Appropriations Act (CRRSAA) bill that was passed into law and signed. The CRRSAA Act is a stimulus bill that provided $23 billion for higher education institutions and students. The HEERF model was established under the CARES Act, hence it is called HEERF II.
Rocky Mountain University of Health Professions (RMU) was given an allocation of $309,036, pursuant to Section 314 (a)(4). The CRRSAA requires that proprietary institutions receiving the funds under this section must use all their grant endowments to provide financial aid to students, prioritizing students who may be experiencing financial hardships of exceptional need due to the coronavirus pandemic. This grant may be used to ease students’ financial burdens related to tuition, food, housing, healthcare, mental health needs, and/or childcare.
The American Rescue Plan Act (ARP) of 2021 (or HEERF III):
On March 11, 2021, the American Rescue Plan Act (ARP) was passed into law and signed. This represents the third stream of funding appropriated in response to the coronavirus pandemic. Hence, it is labeled as HEERF III.
The ARP Act appropriated $39.6 billion, of which $396 million were appropriated for proprietary institutions as defined in section 102(b) of the HEA, to be used ONLY for emergency financial aid grants to students.
Rocky Mountain University of Health Professions (RMU), which received (a)(4) funding under CRRSAA-HEERF II, was included on the ARP(a)(4) allocation table and was given an allocation of $197,311.00.
Combined allocation from HEERF II and HEERF III totaled to $506,347.00. These allocations were made available on:
- March 29, 2021 – HEERF II – $309,036.00
- July 27, 2021 – HEERF III – $197,311.00
Eligible Students:
The CRRSAA required that these emergency grants help students who are most in need. Students must meet the criteria of “exceptional financial need”, or have significant unexpected expenses such as loss of employment for themselves or a household member, reduced income, or food and housing insecurity.
Eligible students are those who were enrolled on or after March 13, 2020, the date of declaration of the national emergency due to coronavirus (85 CFR 15337), regardless of whether they completed a Free Application for Federal Student Aid (FAFSA), or are eligible for Title IV.
In awarding the emergency financial aid grants, RMU determined the selection of students based on:
- Students with exceptional need. This included those who were experiencing significant unexpected expenses, loss of employment for themselves or a household member, reduced income, or food and housing insecurity.
- Emergency costs that arose due to the coronavirus pandemic such as healthcare, mental health needs, and/or childcare.
- Cost of attendance, such as tuition, food, and housing.
The estimated number of students at RMU eligible to participate and receive the HEERF emergency financial aid grants was about 2,124 students.
Eligible students may have used their HEERF financial aid grant for:
- Any component of the cost of attendance, such as tuition, food, and housing.
- Emergency costs that arose due to the coronavirus pandemic such as healthcare, mental health needs, and/or childcare.
Impact of the HEERF financial aid grant on Title IV eligibility:
The HEERF financial aid grant is not be considered as part of estimated financial assistance (EFA) (for cost of attendance purposes). Likewise, these grants are not considered taxable and are not reported on IRS Form 1098-T.
Notification to Students:
RMU notified eligible students about the availability of HEERF financial aid grants via email. This included instructions on how to apply for the grant and on how to claim it using the student’s RMU Gmail account.
The HEERF financial aid grants were disbursed through direct deposit.
NOTE:
All funds from HEERF II and HEERF III (totaling $506,347.00) were disbursed to eligible students as of December 13, 2021. Please refer to the final quarter report in the above link or click here >>> 04193200_HEERF_Q42021_12312021.pdf