The Free Application for Federal Student Aid (FAFSA) is required for Federal aid eligiblity consideration.
The One Big Beautiful Bill Act (H.R.1), signed into law by President Trump on July 4, 2025. For students, families, and institutions like JMU, this bill is significant because it changes some rules related to the federal aid (Title IV) programs.
As of the development of this webpage, these changes are scheduled to go into effect July 1, 2026, and/or with the 2026-27 Free Application for Federal Student.
FAFSA Changes Effective July 1st, 2026
- Family farms and family-owned small businesses will no longer be counted as assets (reverting to rules before FAFSA Simplification)
- Family Farm – Farms on which the family resides
- Small Business – 100 or fewer full-time (or full-time equivalent) employees
- Family-owned commercial fisheries are now also exempt from asset reporting
Foreign Income Reporting
- Foreign income must now be included in the Adjusted Gross Income (AGI) for Pell Grant eligibility
Pell Grant Updates
Pell Grants & Full Scholarships
- Students whose Cost of Attendance (COA) is fully covered by non-federal aid will no longer be eligible for a Federal Pell Grant.
- Example: A Pell-eligible student with a scholarship covering the full Cost of Attendance will no longer receive both the scholarship and the Pell Grant
Pell Grants & High Student Aid Index (SAI)
- Students with an SAI greater than twice the maximum Pell Grant amount will be ineligible for any Pell Grant
- Example: If the max Pell Grant is $7,395, students with an SAI over $14,790 will not qualify
The One Big Beautiful Bill Act introduces significant changes to federal student aid programs, and while some provisions are clear, many others require further clarification from the U.S. Department of Education.
We understand that students, families, and staff have questions—and so do we.
As we receive more guidance and official updates, we will continue to revise and expand this webpage to reflect the most accurate and actionable information available.
Other Federal Loan Updates
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Summer Hours of Operation:
Mon - Thur 8 a.m. - 5 p.m.
Fri 8 a.m. - 12 p.m.
