Financial Aid

Here you can download forms, review our code of conduct, browse frequently asked questions, and access financial aid resources. You can also use this site to get recent updates and news related to financial assistance.

2026-27 FAFSA Reminder

You can file the 2026-27 FAFSA form online at studentaid.gov using your FSA ID login credentials to electronically sign as early as October 1, 2025, using your 2024 tax information.

If you have any questions, please feel free to contact Financial Aid by email at fa@sva.edu.

Financial Aid Loan Entrance Counseling

The federally mandated financial aid loan entrance counseling is required for all students receiving a Federal Direct Stafford Loan or a Federal Direct Graduate PLUS Loan for the first time at SVA. If a student has received a Stafford Loan at a previous institution, they do not need to complete the entrance counseling here at SVA.

Students must complete the entrance counseling before any loan proceeds may be received. The entrance counseling is an information session explaining the student’s rights and responsibilities regarding these loan programs.

Please refer to your SVA email account for correspondence from our office regarding your applicable entrance requirements.

Should you have any questions please contact us by email at fa@sva.edu.

Exit Counseling Schedule

The federally mandated Exit Counseling session(s) are required for all students who received a Federal Direct Stafford Loan and/or a Federal Direct Graduate PLUS Loan at SVA.

The Exit Counseling sessions provide important information that you need as you prepare to repay your federal student loan(s).

Please refer to your SVA email account for correspondence from our office regarding your applicable exit requirements.

It is imperative you complete all required exit counseling sessions in order to be cleared for commencement.

Should you have any questions please contact us by email at fa@sva.edu.

Special or Unusual Circumstances

SVA Financial Aid recognizes that changes may be experienced in the financial situation or a unique situation in the household. While the Free Application for Federal Student Aid (FAFSA) determines financial aid eligibility based on data from two years prior, the process exists to re-evaluate a student’s aid based on certain significant changes.

What changes are not applicable?

Job loss due to cause or personal choice
Standard living expenses (i.e., utilities, car payments)
Mortgage payments
Personal debt
Bankruptcy

What changes might be applicable?

Change to Student Aid Index (SAI)

NOTE: A change to the SAI could result in a change of eligibility for need-based awards. However, it is not guaranteed. Possible changes may include:

Loss or change of employment (those due to cause or personal choice are not applicable)
Child Support change
Death of parent or spouse
Excessive medical expenses (must exceed 11% of adjusted gross income)
One-time taxable income (IRA distribution, pension distribution, etc.)

Change to Cost of Attendance (COA)

NOTE: A change to the COA does not result in a change to need-based awards. It simply increases the total budget (known as the COA) which allows for an increase to PLUS and/or private loans only. Possible changes may include:

Childcare expenses for a dependent child of a student
One-time purchase of a computer for educational use

How do I apply for special or unusual circumstances?

If you meet one of the significant changes outlined in the Change to Student Aid Index (SAI) or the Change to Cost of Attendance (COA) sections above, simply contact your assigned financial aid advisor to schedule an appointment.

News & Updates

2026-2027 Federal Loan Update

Congress passed the One Big Beautiful Bill Act (OBBBA) in July 2025, which introduced several changes affecting federal student loan amounts, effective July 1, 2026, for the 2026-2027 award year. This update includes adjustments to loan amounts for less than full-time enrollment and changes to overall borrowing limits, and how these changes may apply to you.

Loan Proration for Less than Full-Time Enrollment

All federal Direct Loans, except Parent PLUS loans, will be subject to proration for less than full-time enrollment, starting with the 2026-2027 award year, regardless of prior borrowing. This proration mirrors the ratio of enrolled credits to the full-time credit requirement. For example, if a student is enrolled in 9 credits, they would be eligible for 9/12 or 75% of the standard loan amount for the semester. If the student were eligible for $1,750 in Subsidized Direct Loan, the proration would reduce the amount to $1,312. If the enrollment change occurs after disbursement, the adjustments may be made in the following semester. Students must still be enrolled at least half‑time to receive Direct Loans.

Types of Federal Loan Borrowers, effective July 1, 2026

New Borrower– A student with no federal loans disbursed (student or parent) for their current SVA program prior to July 1, 2026, or someone who has paid in full their existing federal loans for the current program.

Legacy Borrower– A student who was disbursed a federal loan (student or parent) prior to July 1, 2026, and continues enrollment in the same degree program during the 2026–2027 academic year. This status can be maintained for the lesser of three academic years or the portion of the program of study remaining for graduation. A student may lose their legacy status before this point if they withdraw or change programs.

Federal Loans Available to Legacy Borrowers

Legacy borrowers may continue to access existing loan program funding levels and provisions for the duration stated above, except for Graduate Plus loan borrowers. Graduate Plus loan borrowers are limited to borrowing $125,000 per academic year under SVA borrowing limits, effective July 1, 2026. Legacy borrowers are subject to the new proration requirements for less than full-time enrollment, with the exception of Parent Plus loan borrowers.

Federal Loans Available to New Borrowers

New regulations regarding borrowing limits under the Direct Loan program for borrowers who do not meet the legacy requirements are effective July 1, 2026, which include the following adjustments:

Undergraduate Direct Subsidized and Unsubsidized Loan annual borrowing amounts remain the same, except for the new proration for less than full-time enrollment
New lifetime loan limits replace the revolving aggregate borrowing limits; repayment of the loan does not restore access under the new caps
Direct Parent PLUS Loan is limited to $20,000 per student per academic year, with a maximum of $65,000 lifetime limit per student, and this loan is not subject to the less than full-time proration
Direct Graduate PLUS Loan is no longer available to graduate students

Annual Direct Unsubsidized Loan limits remain the same for graduate students, but a new lifetime limit for graduate-level borrowing is $100,000 (does not include any Undergraduate borrowing). This loan is subject to the less than full-time proration
New Borrowers are subject to a total lifetime federal student loan cap of $257,500 (excluding Parent PLUS Loans). Within this overall limit, up to $57,500 may be used for undergraduate borrowing, up to $100,000 may be used for graduate‑level borrowing, and up to $200,000 may be used for federally defined professional programs (MD, JD, DDS, etc.). SVA does not offer programs in the professional tier.