Financial Aid & Scholarships
Important updates you need to know about federal student aid effective July 1, 2026
Legislation recently enacted by Congress, the One Big Beautiful Bill Act (OBBBA),
includes substantial changes to federal financial aid, effective July 1, 2026. The OBBBA introduces various changes that will impact all categories of students,
including prospective, undergraduate, and graduate individuals.
Changes made under the OBBBA, include:
- New Direct Loan amounts based on enrollment - Schedule of Reduction (SOR)
- Updated Pell Grant eligibility rules
- New federal loan limits
- Changes to repayment options
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Information and Resources
Completing the Free Application for Federal Student Aid (FAFSA) is a crucial step in accessing the financial resources you need to pursue your educational goals. MSU Billings uses FAFSA information to award federal, state, and some institutional aid. The FAFSA must be completed each year to determine if you qualify for financial aid programs such as the Pell Grant, work study, and student loans.
Net Price Calculator
Students are encouraged to use the Net Price Calculator while awaiting their financial aid package to establish an estimated cost of attendance for the 2026-2027 academic year.
Do not email any documents with personal identifying information such as your Social
Security Number.
You may mail, submit in person, or fax to 406-657-1789