In order to receive Financial Aid, students must complete the Free Application for Federal Student Aid (FAFSA) . When filling out the FAFSA, you will be asked to provide Helena College's school code (007570).
Big Changes Coming to Federal Student Aid: What Students & Parents Need to Know
Starting in 2026, the way students get and repay federal financial aid is going to look a lot different. These changes come from a new law called the One Big Beautiful Bill Act. Here’s a clear breakdown so you know what’s coming and how it might affect you.
1. Pell Grants
- Extra Funding: The government is adding $10 billion to keep Pell Grants fully funded.
2. Federal Student Loans
Changes effective July 1, 2026:
- Parent PLUS Loans – capped at $20,000 per year and $65,000 total per child.
- Overall Lifetime Limit – $257,500 across all federal student loans (Parent PLUS not included in this total).
- Schools Can Set Lower Limits – colleges can choose to lower borrowing limits for entire programs.
- Loan Proration – loans will match your enrollment level (full-time vs. part-time).
3. Loan Repayment
For new loans after July 1, 2026:
- Only two repayment options:
- New Standard Plan – fixed payments over 10, 15, 20, or 25 years (based on loan size).
- New Income-Based Repayment Plan (RAP) – payment is 1–10% of income (based on AGI), with discounts for dependents and no interest piling up faster than you pay.
- Current borrowers can keep their old plans for now, but some plans will be phased out by 2028.
- Parent PLUS loans taken after July 1, 2026, must use the Standard Plan.
4. FAFSA & Eligibility
Starting with the 2026–27 school year:
- Family Farms, Small Businesses, and Fisheries – assets won’t count against you in aid calculations.
- Foreign Income – must be counted when figuring Pell eligibility.
- Full Scholarships – if outside scholarships fully cover your cost of attendance, you can’t also get a Pell Grant.
- High Student Aid Index (SAI) – no Pell Grant if your SAI is more than double the max Pell award.
5. Other Changes
- Borrower Defense & Closed School Discharge – stricter rules delayed until 2035.
- Private College Endowment Tax – higher rates for very wealthy schools (based on per-student endowment).
- Deferment & Forbearance – starting in 2027, fewer options and shorter time limits.
Bottom Line
If you’ll be in college or grad school in 2026 or later, these changes will affect how much you can borrow, how you repay, and in some cases, whether your program qualifies for aid. Parents of future students should pay close attention to the new loan caps and repayment rules.
Please note Financial Aid will continue to provide updates on the changes affecting federal student aid as more information becomes available!
Priority Deadlines
The priority date for applying for financial aid for the 2026-2027 academic year at Helena College is December 1st. The FAFSA application opened October 1st, 2025 for the 2026-2027 academic year. However, if you have not filled out a 2026-2027 FAFSA application just yet, fill one out today!
If you are wanting to attend Helena College anytime during the fall 2025 term, spring 2026 term, or summer 2026 term; fill out the 2025-2026 FAFSA Application.
If you are wanting to attend Helena College anytime during the fall 2026 term, spring 2027 term, or summer 2027 term; fill out the 2026-2027 FAFSA Application.
Helena College will receive a copy of your FAFSA Submission Summary (FSS) which helps determine your financial aid award. Most awards are based on enrolled hours. We calculate your award AFTER you are admitted.
Fill out the FAFSA – Have the appropriate tax returns handy! If you are a dependent student, you will be required to have your parent’s tax information as well.
The form will require income information from the tax year two years prior and must be filed when applying for federal aid and need-based state aid.
When your aid offer is ready to accept, you will receive a postcard in the mail instructing you to login to MyHC.
- If you are accepting loans, you MUST complete Loan Entrance Counseling and sign a Master Promissory Note or you will not receive your aid.
- If you are accepting a Parent Plus Loan, your parent must complete Department of Education Parent PLUS Application , sign a Master Promissory Note , and complete a Helena College PLUS Loan Form or you will not receive your aid.
You may be instructed to provide additional materials. Refer to the Special Messages Tab when accepting your financial aid offer on MyHC.
Many students think that once they accept their financial aid, it finalizes their registration bill. This is not true. Even if your balance is zero, you must either sign a printed copy of your registration bill and return to the cashier’s office OR wait 24 hours after accepting your aid package and then log-on to MyHC to finalize your bill using financial aid please contact our Student Accounts Services Department at hcstudentaccounts@helenacollege.edu or by phone at (406)447-6921.
How to Create An FSA ID
How Financial Aid is Disbursed
Aid will be disbursed to your account in the Business Office twice during each semester. You can review your account balance and when disbursements are posted to your account through your MyHC account under Student Services--Payment and Account Information.
Disbursement #1 will take place 7 – 10 business days after the 15th instructional day and will consist of:
- All Grants for the term
- All Scholarships for the term
- ½ of Student Loans for the term
Note: If you are a first-time student loan borrower, your first loan disbursement will be 30 calendar days after the start of the term.
After all charges are satisfied on your Business Office account, you should receive the remainder of the funds in the form of a check in your mailbox. Please ensure your mailing address is up-to-date on your MyHC account.
Disbursement #2 will take place 7 – 10 business days after successful mid-term grades have been posted and will consist of:
- ½ of Student Loans for the term
After all charges are satisfied on your Business Office account, you should receive the remainder of the funds in the form of a check in your mailbox.
*Note: All requirements must be completed and your bill must be finalized online. You can view the amount of your check on your MyHC account under Payment and Account Information. Ensure your mailing address is current in MyHC as checks are mailed to the address on file. Helena College is not responsible for mail issues.
How to find out if you qualify for a Special Circumstance or Professional Judgment
The Higher Education Act of 1992 allows financial aid administrators to make professional judgment decisions for special or unusual family or student circumstances. These circumstances must be documented and must be analyzed on a case-by-case basis.
The Director of Financial Aid can exercise professional judgment in different ways. One example is when the student or student’s family (if dependent) has experienced a hardship where the expected year income will be significantly less than the prior year income. In this situation, the aid administrator will request substantial verification of the circumstances and expected year income.
Due to the uniqueness of professional judgment decisions, specific required documentation may be extensive. It is left to the discretion of the Director of Financial Aid to request appropriate documentation. The documentation should substantiate the student’s situation. Professional Judgment forms are available under the Forms & Policies section.
The decision for using professional judgment will be made by the Financial Aid Officer. All decisions made by the Director of Financial Aid are final according to the Higher Education Act of 1992.
How to Maintain Financial Aid Eligibility
In order to continue to receive financial aid, you must:
- Maintain at least a 2.0 cumulative grade point average (GPA) for the number of hours you have attempted, and
- Pass at least 70 percent of the credit hours attempted, and
- Complete a degree or certificate program in no more than 150% of the number of credits required for the degree program.
How to Appeal to Reinstate Your Financial Aid
Appeals for financial aid eligibility reinstatement must be received in the Financial Aid Office no later than two weeks prior to the start of the term for which the student desires aid. Appeals will be reviewed by the Financial Aid Appeals Committee on a case-by-case basis. There are no appeals accepted for financial aid reinstatement for the summer term. Please refer to the Satisfactory Academic Progress Policy (SAP) for further information.
Cost of Attendance
The Cost of Attendance (COA) is used to establish a student's eligibility for need based aid and serves as a cap on the total amount of aid a student can receive in a given academic year. It includes both direct costs owed to the school, like tuition and fees, and indirect costs such as transportation, which the student may incur, but are not owed to the school. As a result, COA is an amount greater than what the student will be charged.
Cost of Attendance for 2025-2026
Helena College does not discriminate on the basis of race, creed, religion, sex, marital status, color, age, physical handicap, national origin, service in federally or state defined uniform service, veteran status, political ideas, genetic information, gender identity, gender expressions, sexual orientation or physical or mental handicap in the administration of all aid programs.