Loans

Congress passed the One Big Beautiful Bill Act (OBBBA) 2025, which announced several changes to federal student loans beginning July 1, 2026. Here are the key points regarding the changes for public health students: 

• Elimination of Grad PLUS Loans: The Grad PLUS loan program, which allowed graduate students to borrow up to the full cost of attendance, will be discontinued for new borrowers. 
• Lower Loan Limits for Graduate Students: Graduate students (non-professional) will be capped at $20,500 annually and $100,000 overall. 
• Reduces the amount of a loan that a student may borrow for an academic year if the student is enrolled in a program of study on less than a full-time basis during that academic year.

These changes do not affect student borrowing for the current academic year (2025–2026). Students who have already borrowed federal loans for their current academic program may be considered a “continuing borrower” and therefore grandfathered in if enrolled in the same academic program through June 30, 2026.

Federal Direct Unsubsidized Stafford Loan

The Direct Stafford Loan program allows full-time and part-time students to borrow money directly from the federal government. The loans must be paid back beginning six months after graduation or dropping below half-time enrollment. Interest accrues while the student attends school. This interest may be paid or added to the loan. 

Graduate PLUS Loans

Federal Graduate Plus Loan is a federal loan that graduate or professional degree students can use to help pay education expenses. To receive a Graduate PLUS Loan, you must be a graduate or professional degree student enrolled at least half-time (six credits) at an eligible school in a program leading to a degree. 

For the 2026–2027 academic year, the Federal Graduate PLUS Loan program will be eliminated for new borrowers. Students starting a new graduate or professional program after July 1, 2026, will not be able to borrow under the Federal Graduate PLUS Loan program. Borrowing will be limited to Federal Direct Unsubsidized Loans only, with new aggregate limits: 

Students who are already enrolled in a graduate program and have had a Federal Direct Loan disbursed before July 1, 2026, may continue to borrow under the current rules (including Grad PLUS loans up to the cost of attendance) for up to an additional three academic years or until they complete their program, whichever comes first. 

With PLUS loans:

• The U.S. Department of Education is the lender. 
• The borrower must not have an adverse credit history. 
• The maximum Graduate PLUS loan amount is the student’s cost of attendance (determined by the school) minus any other financial aid/scholarships received. 
• You must be enrolled at least half-time in a graduate or professional program 

Eligibility Requirements for Federal Loans

• Be a student enrolled or accepted for enrollment in an eligible program at an eligible institution 
• Register for at least six credit hours of study 
• Student must maintain good academic standing and make satisfactory academic progress toward the completion of their degree 
• Be a U.S. citizen or national, or an eligible non-citizen 
• Have a valid, correct Social Security Number (SSN) 
• Be registered with Selective Service (for males between the ages of 18-25) 
• Not be in default of a Federal loan or owe an overpayment on a federal grant or Federal Perkins Loan 
• Not have borrowed in excess of the annual or aggregate loan limits 
• Not be convicted of possessing or selling illegal drugs while receiving financial aid* 

***First-time Direct Loan borrowers must complete an online Direct Loan Master Promissory Note here and Entrance Counseling here before receiving loan funds. 

Loans Available program

Accepting or declining a William D. Ford Federal Direct Unsubsidized Loan for graduate & doctoral students

Graduate and Doctoral students will be awarded an unsubsidized loan automatically on CUNYfirst, students can accept or decline their Direct Unsubsidized and Graduate plus loan directly on CUNYfirst.

Pending Aid in CUNYfirst

Authorization and Pending Financial Aid

After you have accepted your unsubsidized loan, and completed all the necessary steps above allow a 3-5 business days for the loan to authorize. Once authorized, the loan will show on your CUNYfirst Student Center under the “Financial Account” tile as pending financial aid. Navigate to “Account Balance” on the menu sidebar to see your total charges, pending financial aid and how much you still owe (if anything). Pending financial aid means that it is approved but pending to disburse on the next available disbursement date.

Loan Disclosure and Disbursement

How Disbursements Work

You will receive an official disclosure statement via email from the Direct Loan Servicing Center confirming your approved award and anticipated disbursement dates. Federal loans are issued in two separate disbursements. Initial Disbursement dates for the loan are indicated below. Disbursements occur each Monday (excepting legal holidays) following the initial disbursement date. Any disbursement that is in excess of the tuition and fees liability will refund on the Friday after the disbursement date via check or direct deposit.

Private Loans (Alternative Loans)

Private Education Loans are offered through private lenders and are meant to provide additional educational funding only after a student has exhausted all other sources of funding such as federal and state aid. These loans are not guaranteed by the federal government and may carry high interest rates and origination fees. All the loans require a credit check and most will require a cosigner if the borrower has little or negative credit history. CUNY/ SPH does not recommend any specific lender/programs, but offers these recommendations about private loan borrowing.  

Students should only consider obtaining a private education loan if they are not eligible for Federal Loans. 

Before receiving a private education loan, you need to print and fill out the Private Education Loan Self-Certification Form (please do not complete Section 2) and submit it to SPH Office of Financial Aid.