Legislation Impacting Financial Aid
Colorado School of Mines
Recent Legislation Impacting Financial Aid
The One Big Beautiful Bill Act (H.R.1) was signed into law on July 4, 2025. This legislation included significant changes to federal student aid programs for all students and families currently attending college and planning to attend in the future.
The U.S. Department of Education is interpreting the law and providing guidance over the coming months. Implementation is scheduled for July 1, 2026.
Schedule of Reduction/Loan Proration
The new legislation requires institutions to prorate annual loan amounts for all students who are not attending full time. This is effective beginning in fall 2026 for the 2026-2027 aid year. To be eligible for federal student loans at all, students must be at least half time. Half time for undergraduates is 6 credits; half time for graduate students is 4.5 credits. This rule has always been true for federal loans.
The new legislation adds a requirement that any student borrowing a federal student loan (subsidized, unsubsidized, graduate PLUS) must be full time to borrow the maximum annual loan amount. Full time for undergraduates is 12 credits; full time for graduate students is 9 credits. If a student is less than full time, but more than half time, the loan will be prorated based upon actual enrollment. Students who withdraw during a term can have impacts on future term loan eligibility if the withdrawn course takes them below full-time status. Parent PLUS loans are not subject to proration.
Federal Parent PLUS Loans
Parents of current Mines students who have borrowed a federal loan prior to July 1, 2026 will be granted a legacy provision. Legacy status means the parent can continue to borrow a parent PLUS loan up to the cost of attendance as long as the student remains enrolled in their degree without withdrawing or stopping out for a term. Legacy provision will expire after the scheduled time to degree has passed or three years from Fall 2026, whichever is less. Undergraduate time to degree is 4 years.
New student or parent borrowers and new students to Mines have borrowing limits based on the legislation. Parents may borrow $20,000 per year up to $65,000 aggregate (lifetime) for the dependent student.
Federal Graduate PLUS Loans
Current Mines students who have borrowed a federal loan prior to July 1, 2026 will be granted a legacy provision. Legacy status means the graduate can continue to borrow a graduate PLUS loan up to the cost of attendance as long as the student remains enrolled in their degree without withdrawing or stopping out for a term. Legacy provision will expire after the scheduled time to degree has passed or three years from Fall 2026, whichever is less. Master’s (both thesis and non-thesis) time to degree is three years; PhD time to degree is six years.
New graduate students are not eligible for graduate PLUS loans. This is true for undergraduate students enrolled in the combined program who were admitted to a graduate degree program and began taking graduate classes before July 1, 2026. If the student has not graduated from their undergraduate program, begun their graduate degree program, and borrowed a federal graduate-level loan, they do not qualify for legacy provisions.
More Information
For billing issues contact: Bursar's Office 303-273-3158
For health insurance waivers contact: Student Health Insurance 303-273-3388
For College Opportunity Fund contact: Registrar's Office 303-273-3200
For information on Veteran Affairs contact: Registrar's Office 303-273-3200
Contact Info
Mailing address:
Colorado School of Mines
Financial Aid Office
1301 19th Street
Golden, CO 80401
Office Location:
Ben Parker Student Center, E160
1200 16th St
Golden, CO 80401
Walk-In Hours:
Monday through Friday
9am - 4pm
303-273-3301
Toll-free: 1-888-446-9489
finaid@mines.edu
For scholarship questions, email scholarship@mines.edu
