Financial Aid

Federal Student Aid Changes beginning July 1, 2026

Under the One Big Beautiful Bill Act (OBBBA), there are several changes to federal loan borrowing for graduate students starting on July 1, 2026:

• Elimination of the Federal Grad PLUS Loan: New borrowers will no longer be eligible to borrow the Federal Grad PLUS Loan
• The aggregate graduate student loan limit is $100,000, a decrease from the current aggregate limit of $138,500.

Graduate students may continue to borrow up to $20,500 per year in the Federal Unsubsidized Loan.

Legacy Provision

Students currently enrolled in a graduate program who have borrowed and had a federal direct loan disburse before July 1, 2026 may continue borrowing the current Federal Direct Unsubsidized and Federal Grad PLUS loans 3 academic years or until the completion of their program, whichever comes first. The loans must have been borrowed for the currently enrolled program.

The National Association of Student Financial Aid Administrators (NASFAA) has published a helpful chart that reviews the changes to federal student aid: Federal_Student_Aid_Change_OB3.pdf.

Future Graduate Students

If you plan to enroll in a graduate program in the 2026-27 academic year and are considering borrowing a loan, here are some things to keep in mind:

1. File the FAFSA: To borrow a federal loan, you must complete the 2026-27 Free Application for Federal Student Aid (FAFSA).
   • Graduate students may borrow up to $20,500 per year in a Federal Direct Unsubsidized Loan.
   • You must be a U.S. citizen or permanent resident to be eligible for a federal loan.

2. Review interest rates when borrowing a loan: Please refer to the Federal Student Aid website for current interest rates. Please note the current federal student loan interest rate is subject to change for the upcoming academic year beginning on July 1, 2026. 

3. Consider repayment options: For new federal loans borrowed after July 1, 2026, there will be two repayment options, a Standard repayment plan and the new Repayment Assistance Program (RAP).

4. Consider alternate funding options: With the elimination of the Federal Grad PLUS Loan after July 1, 2026, some students may want to consider looking into private loan options to help finance their educational expenses. Private loans must be borrowed independent of SIT, as we cannot recommend a particular lender. However, there are many options available, and we encourage students to research which private loan may best suit their needs.

Questions? We are here to help! Please reach out to [email protected] or [email protected].

Please note the information below pertains to Global Master’s Degree students only.

SIT Graduate Institute offers merit-based scholarships . Students are automatically considered for merit scholarships upon admission to SIT Graduate Institute.

Scholarship Information

Any SIT scholarship aid is automatically applied to your SIT bill, reducing overall program costs. Admits who qualify for a partner or SIT scholarship noted below may or may not be considered for additional merit scholarships. See each scholarship type for eligibility.

Below please find more information on our available SIT scholarships for eligible students seeking a Global Master’s Degree from SIT Graduate Institute:

The Alumni Advantage: $10,000 scholarship to enable alumni to continue their educational journey within the SIT and larger World Learning community. This award cannot be combined with other merit funding from SIT. The Alumni Advantage scholarship is for alumni of:

• The Experiment in International Living
• SIT Study Abroad or International Honors programs
• SIT Custom Programs

World Learning Experiment & Youth Program Leaders Scholarship: $10,000 scholarship for former Group Leaders of the Experiment and Youth Programs. This award cannot be combined with other merit funding from SIT.

The SIT Partners: $10,000 scholarship available to current employees of the nearly 300 partners of SIT Graduate Institute and sending schools to SIT Study Abroad.  This scholarship cannot be combined with other merit funding from SIT.

The Vermonter: $8,000 scholarship for applicants living in Vermont, where SIT’s campus has been based since the early 1960’s, when it was founded as a training center for Peace Corps. As a proud member of the Vermont community, SIT is dedicated to strengthening the Vermont workforce, advancing leadership skills within the state, and providing global opportunities for Vermonters. This scholarship cannot be combined with other merit funding from SIT.

The Northern Neighbors: This scholarship seeks to extend SIT’s global opportunities for state residents neighboring SIT’s historic campus in Vermont. This $5,000 scholarship is for applicants residing in New England outside of Vermont, which includes Connecticut, Maine, Massachusetts, New Hampshire, and Rhode Island, as well as New York State, and it is focused on supporting globally minded citizens in these states. This scholarship may be combined with other merit funding from SIT.

Questions? Please contact us: [email protected]

Federal Student Loans

Federal Direct Unsubsidized Loan

The Federal Direct Unsubsidized Loan is a federal non-need based loan available to graduate students who are U.S. citizens or permanent residents. Interest begins accruing on this loan once it is disbursed to your student bill, but repayment can be deferred while enrolled in school.

There is an annual borrowing limit of $20,500 per academic year on the Federal Direct Unsubsidized loan. Loan limits are set by the federal government. A student cannot borrow a loan that exceeds the Cost of Attendance of the program they are attending.

Interest rates – These are set by the federal government each year beginning on July 1^st. 

Origination fee—This is a fee charged by the federal government on the total amount of the loan. The fee is set on October 1^st and is subject to change each year.

Repayment – Begins six months after you graduate or are no longer enrolled in school at least half-time. Repayment options are available ranging from 10-30 years.

Federal Grad PLUS Loan

The Federal Grad PLUS Loan is a federal non-need based loan available to graduate students who are U.S. citizens or permanent residents. Interest begins accruing on this loan once it is disbursed to your student bill, but repayment can be deferred while enrolled in school. To be eligible for this loan, a borrower must not have an adverse credit history. A credit check is required before you can be approved for the loan.

There is no annual borrowing limit on this loan, but a student cannot borrow a loan that exceeds the Cost of Attendance of the program they are attending.

Interest rates – These are set by the federal government each year beginning on July 1^st. 

Origination fee—This is a fee charged by the federal government on the total amount of the loan. The fee is set on October 1^st and is subject to change each year.

Repayment – Begins 60 days after the second disbursement OR can be deferred until six months after you graduate or are no longer enrolled in school at least half-time. Repayment options are available ranging from 10-30 years.

Please note the Federal Grad PLUS Loan will be eliminated as of July 1, 2026.

To Apply for a Federal Loan

If you are a U.S. citizen or permanent resident, you must complete a Free Application for Federal Student Aid (FAFSA). You will need to include SIT’s Federal School Code on your FAFSA, which is 008860.

To access all Federal Student Aid sites, you will need to create an FSA ID or access it if you have previously created one. Your FSA ID will also serve as your legal signature.

Once the Student Financial Services Office has received and reviewed your FAFSA, you will be notified via email that your financial aid letter, which will include the loan(s) you are borrowing, is ready to view in Colleague Self-Service. The loan(s) must be accepted in Colleague Self-Service.

Enrolled students please note, upon being issued your SIT student email address, the SIT Student Financial Services Office will use your SIT email address for all SIT communication, including information that pertains to financial aid.

Please note that you will be required to complete entrance counseling if this is the first time you have borrowed a federal loan while enrolled at SIT. If this is your first time borrowing a Federal Direct Unsubsidized or Federal Grad PLUS loan, or it has been more than 10 years since you borrowed one of these loans, you will also be required to sign a master promissory note. These items are required before a loan can be disbursed to your student bill and must be completed by logging into your Federal Student Aid account.

Private Education Student Loans
Private student loans can help cover educational expenses. Private loans must be borrowed independent of SIT, as we cannot recommend a particular lender. However, there are many options available, and we encourage students to research which private loan may best suit their needs. When considering applying for a private educational loan, here are some important things to keep in mind:

• Many private educational loans require a cosigner who is a U.S. citizen or permanent resident.
• Approval for a private educational loan is subject to a credit check, and credit score will impact your ability to be approved for a loan. You can review your credit score before borrowing a private loan for free at www.annualcreditreport.com.
• Interest rates, fees, and repayment options will vary from lender to lender. Be sure you understand the terms of the loan before borrowing.
• Make sure you understand the timing of when your loan will be disbursed to allow sufficient time for the loan to be applied to your bill.
• Ask the lender if there is a toll-free number or someone you can contact for questions. Since SIT cannot directly assist with questions about a private loan, it is important to know that there is someone available to assist you.

SIT Graduate Institute welcomes our veterans and their dependents. We are a proud participant in the Yellow Ribbon program. As such, we will match up to $5,000 for a maximum of 10 students in our Doctoral Programs, and up to $10,000 for a maximum of 10 students in our Global Master’s Degree programs. More information about Veteran’s Affairs at SIT can be found here: Veteran’s Affairs – SIT Graduate Institute site.

Recipients of VA benefits will need to submit their Certificate of Eligibility for their benefits to be certified with the VA. Please submit to Sarah Pietryka Tucker at [email protected]. Any questions related to VA Benefits can be directed to Sarah, SIT’s VA School Certifying Official.

There are many outside scholarship opportunities available for graduate students. SIT Graduate Institute has identified a list of organizations that provide scholarship opportunities below:

• Sallie Mae College Planning
• Scholarships4schools.com
• Scholarship America
• College Raptor
• Global Scholarships

Below please find helpful links related to the financial aid application process:

Financial Aid Applications

• Free Application for Federal Student Aid
• Federal Student Aid FSA ID

Loan Information

• Federal Aid for Graduate and Professional Students
• Federal Direct Grad PLUS Application and Promissory Note
• Federal Direct Unsubsidized Student Loan Promissory Note
• Entrance Counseling
• Federal Loan Interest Rates
• Repayment Plans and Calculators
• Loan Forgiveness for Teachers
• Loan Forgiveness for Public Service
• Private Loan Self-Certification Form

Financial Aid Refunds
Loans are processed weekly, and you will generally have access to funds within two weeks after completing all the required paperwork.

Withdrawal Process
If you are receiving federal financial aid and withdraws before completing greater than 60% of the period of enrollment, the Student Financial Services Office will perform a Return of Title IV Funds calculation to determine the amount of federal aid you did not earn. These requirements are based on federal law and there is no provision for a waiver.

You will be notified by mail of the unearned amounts returned to the financial aid programs. You may be responsible for reimbursing SIT Graduate Institute for any funds returned on your behalf. Until your debt is paid, you cannot register for classes in future semesters and/or have your official academic transcripts released.

You must complete an exit interview , which outlines rights and responsibilities in repaying your student loan if you have received a Federal Direct Unsubsidized Student Loan or Federal Direct Grad PLUS Loan during your attendance at SIT Graduate Institute.

SIT Graduate Institute will report your withdrawal (official or unofficial) to the loan servicer and to the National Student Loan Data System. You may receive further information from your student loan servicer regarding repayment of the loan and may be required by the servicer to immediately repay additional unearned amounts due