Institutional Loan Limits

You can use the Institutional Loan Limit tab on the Program Versions page to add, edit, delete, and copy institutional loan limit records.

Effective 2026-27, schools that apply institutional loan limits below the federal statutory maximums must report this through the <InstitutionalLimitApplied> tag on each applicable Direct Loan disbursement. For more details about this tag, refer to Institutional Limit Applied (ILA) for Direct Loans.

The Awards form at the student level will display a read-only "Institutional Loan Limit" field for each Direct Loan fund source for 2026-27 and later award years. If the FA Program Version specifies a Fund Source Type, Description, and Award Year with an Institutional Loan Limit, loans awarded will display this field as Yes, otherwise as No.

Prerequisites

You must have Financial Aid - Configuration - Manage authorization.

Access Method

Select the Configuration tile > expand Financial Aid > select Program Versions.

Procedure to Add, Edit, Delete, or Copy Institutional Loan Limits

  1. If not already selected, select the Program Version in the grid.

  2. Select the Institutional Loan Limits tab.

  3. Take the appropriate action.

    • To add institutional loan limits, select the Add button on the grid toolbar and specify the following values:

      Award YearClosed The financial aid award year associated with the record.

      Fund Source TypeClosed Select the Direct loan type. The options are:  Direct Subsidized Loans  Direct Unsubsidized Loans  Direct PLUS Loans

      Fund SourcesClosed The fund sources you wish to work with.

      Notes:

      • You can set the Award Year to 2026-27 or later.

      • You can select only one Direct Loan Fund Source Type and a single Award Year at a time.

      • You can select multiple Fund Sources within the specified Fund Source Type.

      After configuring a Fund Source Type, select the expand icon (open child grid) to reveal a child grid showing each Fund Source Description and its corresponding Fund Source Code.

    • To edit a Fund Source Type, select the hyperlink associated with it.

      The system prevents configuring duplicate fund source types for the same award year, but it allows identical fund source descriptions/codes across different award years.

    • To copy institutional loan limits, select a record and select the Copy button on the grid toolbar.

    • To delete institutional loan limits, select a record and select the Delete button on the grid toolbar.

  4. If you want to save and: 

    • Continue making changes, select the Save button on the Edit Program Version pane

    • Close, select the Save & Close button on the Edit Program Version pane