Funding Your Affordable Education

In a time when figuring out how to pay for college can feel overwhelming, Morton College offers an affordable pathway to a quality education that can save you thousands of dollars.

The Morton College Financial Aid Office provides a comprehensive range of services designed to bridge the gap between the financial resources of students and their families and the cost of attending MC. Our goal is to help reduce financial barriers and make higher education accessible.

Learn more about financial aid options, apply for scholarships, and explore the cost of attending Morton College.

Cost of Attendance (COA) is an estimate of the total costs for a student to attend for one academic year. It includes direct costs paid to the college, such as tuition and fees, as well as indirect expenses like books, supplies, transportation, and personal living costs.

New Federal Student Aid Changes
effective July 1, 2026

Federal student aid programs will change beginning with the 2026–2027 academic year due to federal legislation known as the One Big Beautiful Bill Act (OBBBA). These updates affect certain federal loan programs, repayment options, and eligibility requirements administered by the U.S. Department of Education.

Changes to Federal Student Loans

Federal Loan Proration Based on Enrollment Intensity

Beginning with the 2026–2027 academic year, federal student loan annual limits will be prorated based on a student’s enrollment intensity if the student is enrolled less than full-time.

Students must still be enrolled at least half-time to receive federal student loans. However, if a student enrolls between half-time and full-time, the maximum annual loan amount may be reduced proportionally based on enrollment intensity.

Enrollment intensity measures the percentage of full-time enrollment in which a student is registered during a term. Students enrolled in fewer credit hours may qualify for a reduced federal loan amount compared to students enrolled full-time.

For more information about federal student loan eligibility contact the Financial Aid Office.

New Federal Loan Repayment Structure

Beginning July 1, 2026, new federal loan borrowers will generally choose between two repayment options:

• Standard Repayment Plan

• Repayment Assistance Plan (RAP) – a new income-based repayment plan.

Some current income-driven repayment plans will gradually transition to the new structure.

Changes to Pell Grant Eligibility

Updates to the Federal Pell Grant program include:

• Expansion of Pell eligibility to certain short-term workforce training programs.

• Pell eligibility limits tied to the Student Aid Index (SAI), which is calculated from the Free Application for Federal Student Aid (FAFSA). Two times the annual federal loan limit maximum. Ex: $7,395.00 x 2 = $14,790.00

Borrowing Limits

Updated borrowing limits will apply to certain federal loans:

• Parent borrowers: The Direct PLUS Loan for Parents will be limited to $20,000 per academic year per dependent student and $65,000 total per student.

Impact on Current Borrowers

Students and families who borrowed federal student loans prior to July 1, 2026 may continue under many existing rules for a limited time while completing their program of study.

Important Information

These changes apply primarily to federal financial aid awarded for the 2026–2027 academic year and beyond. Financial aid awarded for the 2025–2026 academic year is not affected.

For more information about federal financial aid programs, visit StudentAid.gov or contact the Financial Aid Office.