Financing a graduate or doctoral degree rarely begins with a single answer. Rather, it begins with a doorway. On one side are your academic goals, on the other is the complex world of financial aid for graduate school or doctoral school.

To step through, you first meet the FAFSA, which acts as the gatekeeper that determines which doors may open to you. The Pell Grant is one of the rooms behind those doors, but it is not designed for everyone.

In other words, Pell Grants offer need-based support to undergraduate students. At the same time, the FAFSA serves as the universal starting point for the broader landscape of federal loans, work-study opportunities, and institutional support.

Understanding how the Pell Grant vs. FAFSA fit together can help you understand what options are (and are not) available at the graduate level.

What is FAFSA?

The Free Application for Federal Student Aid (FAFSA) is the federal government’s entry point for determining your eligibility for most types of financial aid.

Whether you are applying for a master’s program, a doctoral degree, or a professional credential, the FAFSA is the form that connects your financial profile to available aid options. It is also required by many universities (including Alliant University) to determine eligibility for institutional aid. In short: no FAFSA, no federal aid.

For graduate and doctoral students, the FAFSA process differs from the undergraduate process. Pell Grants, for example, are not typically available at the graduate level, but other significant aid opportunities are.

FAFSA for Graduate & Doctorate Students

Completing the FAFSA as a graduate or doctoral student can lead to multiple funding options.

Direct Unsubsidized Loans

Graduate and doctoral students may be eligible for Direct Unsubsidized Loans, which are not based on financial need.^[1] This means eligibility is determined by enrollment status, not income. Interest begins accruing as soon as the loan is disbursed, but repayment does not begin until after you leave school or drop below half-time enrollment. 

Graduate PLUS Loans (Until July 1, 2026)

For students who need additional funding beyond the unsubsidized loan limit, Graduate PLUS Loans have traditionally filled the gap.^[2] These loans allow students to borrow up to the full cost of attendance, minus any other aid.

However, under the One Big Beautiful Bill Act, Grad PLUS loans will be phased out starting July 1, 2026.^[3] New borrowers after that date will no longer have access to this loan program, making timing a critical factor for those planning to start a graduate program in the coming years. 

Eligibility and Borrowing Limits

Currently, graduate and professional students can borrow up to $20,500 annually in Direct Unsubsidized Loans, with an aggregate limit of $138,500 (including undergraduate borrowing).^[4]

Grad PLUS loans allow borrowing above that limit, but only for loans disbursed before June 30, 2026.

Why Completing FAFSA Matters

Even if you are unsure how much aid you will qualify for, submitting the FAFSA is essential. Students often ask, “Why is FAFSA important?” The short answer is that the FAFSA unlocks federal loans, institutional awards, and other funding streams that are otherwise unavailable.

• For graduate students, in particular, the FAFSA can also determine eligibility for work-study positions, school-funded awards, and other forms of aid that help offset tuition and living expenses. Without a completed FAFSA, many of these opportunities simply remain out of reach.
• Completing the FAFSA early also matters. Many institutional aid programs operate on a first-come, first-served basis, and upcoming federal changes make timing more crucial than ever.
• Submitting before the June 30, 2026, cutoff could allow students to access Grad PLUS and current repayment structures before they change.

At Alliant, we encourage students to view FAFSA as a strategic first step in building a financial plan for graduate or doctoral study.

What are Pell Grants?

Pell Grants are funded by the federal government and administered through the Department of Education. Pell Grants provide undergraduate students with significant financial aid to access higher education.

Unlike loans, Pell Grants do not require repayment. They are awarded based on the information students submit through the FAFSA, including:

• Income
• Family size
• Cost of attendance

They can cover a portion of tuition, fees, books, and other educational expenses, reducing the overall amount a student may need to borrow.

For most graduate and doctoral students, however, Pell Grants are not available. While there are a few limited exceptions, such as Postbaccalaureate Teacher Certification Programs, these only apply to a narrow group of students pursuing specific credentials.^[5]

Pell Grant vs. FAFSA: Key Differences for Post-Grads

At first glance, Pell Grants and the FAFSA can seem closely connected. After all, both are part of the federal financial aid system. But they serve very different purposes, especially for graduate and doctoral students.

	Pell Grants	FAFSA
Eligibility	Pell Grants are designed primarily for undergraduate students with demonstrated financial need. Most graduate and doctoral students are not eligible for this grant once they have completed their first bachelor’s degree.	FAFSA is required for all students seeking federal financial aid, including graduate learners.
Type of Aid	Pell Grants are federal grants: They do not need to be repaid. They reduce out-of-pocket costs for qualifying undergraduate students.	The FAFSA itself is not a form of aid, but rather an application that gives students access to federal loans, grants, and work-study programs.
Funding Amounts	Pell Grant awards are capped annually by federal guidelines. For the 2025 – 26 award year, the maximum Pell Grant is $7,395.[6] It is set by Congress and remains tied to need and enrollment status.	FAFSA does not have a “maximum award” in the same way. Instead, it determines eligibility for Direct Unsubsidized Loans and, until July 1, 2026, Graduate PLUS Loans, which can cover up to the full cost of attendance minus other aid received. This flexibility is critical for financing graduate and doctoral programs, which often cost significantly more than undergraduate study.
Application Timing and Deadlines	The Pell Grant is awarded based on FAFSA information, but Pell Grant eligibility typically ends for most students after they complete their undergraduate degree.	FAFSA should be filed as early as possible each year, especially as federal aid programs (like Grad PLUS) are set to change after June 30, 2026. Early filing also provides students with a clearer picture of their total aid package before they commit to a program.

While Pell Grants may be in the rearview mirror for graduate students, FAFSA remains the key to financial aid for advanced education.

Strategies for Maximizing Graduate Financial Aid

Federal aid rules are evolving. For graduate and doctoral students, strategy matters as much as eligibility.

Submit FAFSA Early and Accurately

The FAFSA is the foundation of your financial aid package, and submitting it early can make a significant difference in the amount of funding you receive.

Graduate and doctoral students should double-check their school code, program selection, and personal information to avoid processing delays. 

Explore Institutional Scholarships & Fellowships

Federal loans are only one piece of the puzzle. Many universities (including Alliant) offer scholarships, assistantships, and fellowships specifically for graduate and doctoral students. These may be based on:

• Academic merit
• Research interests
• Leadership experience
• Community engagement 

Students should learn how to apply for scholarships and research deadlines, and eligibility criteria early so institutional awards are not missed. In addition, understanding best practices for how to get scholarships for graduate school, tailoring essays to program fit, securing strong recommendations, and aligning scholarship applications with your research or professional focus can improve your chances.

Meet With a Financial Aid Advisor

Graduate financial aid can be complex, especially since Pell Grants do not apply to most postgraduate programs. A financial aid advisor can work one-on-one with you to interpret the rules and explore alternative funding options.

FAQs for Post-Grad Financial Aid

These FAQs address the most common questions students ask as they plan their funding.

Q: Can I get a Pell Grant as a doctoral student?

A: No. Pell Grants are reserved for undergraduate students, with very few exceptions.

Q: Do I still need FAFSA if I do not qualify for Pell?

A: Yes, FAFSA is required for all federal loans, federal work-study, and most institutional aid.

Q: Can Pell Grant history affect my grad funding?

A: Only indirectly. Previous Pell Grants do not reduce graduate eligibility, but prior federal loan history can affect your aggregate borrowing limit.

Q: Will the Title IV changes affect my current loans if I already borrowed before July 1, 2026?

A: Loans disbursed before the cutoff will remain under the current terms and repayment options. Future borrowing after July 1, 2026, will be subject to the new rules that impact Title IV financial aid and related programs. 

Q: Are there funding options beyond federal loans for graduate students?

A: Yes. Students can combine federal aid with institutional scholarships, fellowships, assistantships, or external grants and employer tuition benefits.

Take Action — Plan Your Graduate Funding Now

The most important part of your graduate journey begins when you step into the complex architecture of financial aid. Here, FAFSA is the gatekeeper, and what happens after you meet it can shape the opportunities that follow.

When you apply to Alliant University, you do not have to face that threshold alone. From your very first step, our financial aid team helps you understand which paths are available: whether that means filing FAFSA early, securing aid before the July 1, 2026, changes, or exploring scholarships and assistantships designed specifically for graduate and doctoral students. With guidance, deadlines become manageable, and the financial side of graduate education becomes less of a barrier.

Your graduate journey deserves a strong foundation. Let us build it together. Start your journey with Alliant today.

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Sources:

^[1] Federal Student Aid. “Direct Subsidized and Direct Unsubsidized Loans.” The U.S. Department of Education. August 07, 2023. https://studentaid.gov/understand-aid/types/loans/subsidized-unsubsidized. Accessed October 31, 2025.

^[2] Federal Student Aid. “Direct PLUS Loans for Graduate or Professional Students.” The U.S. Department of Education. August 21, 2025. https://studentaid.gov/understand-aid/types/loans/plus/grad. Accessed October 31, 2025.

^[3] The White House. “The One, Big, Beautiful Bill is a Once-in-a-Generation Chance.” The White House. May 16, 2025. https://www.whitehouse.gov/articles/2025/05/one-big-beautiful-bill-is-a-once-in-a-generation-chance/. Accessed October 31, 2025.

^[4] 2025-2026 Federal Student Aid Handbook. “Annual and Aggregate Loan Limits”. Federal Student Aid Knowledge Center. July 26, 2023. https://fsapartners.ed.gov/knowledge-center/fsa-handbook/2025-2026/vol8/ch4-annual-and-aggregate-loan-limits. Accessed October 31, 2025.

^[5] FSA Partner Connect. “Student Eligibility for Pell Grants.” The U.S. Department of Education. August 25, 2023. https://fsapartners.ed.gov/sites/default/files/2025-2026/2025-2026_Federal_Student_Aid_Handbook/_knowledge-center_fsa-handbook_2025-2026_vol7_ch1-student-eligibility-pell-grants.pdf.  Accessed October 31, 2025.

^[6] Federal Student Aid Knowledge Center. “(GEN-25-02) 2025-2026 Federal Pell Grant Maximum and Minimum Award Amounts (Updated May 29, 2025)”. The U.S. Department of Education. January 31, 2025. https://fsapartners.ed.gov/knowledge-center/library/dear-colleague-letters/2025-01-31/2025-2026-federal-pell-grant-maximum-and-minimum-award-amounts-updated-may-29-2025. Accessed October 31, 2025.

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Deborah Spindler
University Director of Financial Aid, Financial Aid Administration, Alliant University

In the role of University Director of Financial Aid, Deborah Spindler leads the Alliant University Financial Aid Administration. The financial aid administration is committed to providing assistance to qualified students who would otherwise be unable to pursue their educational and professional goals.

Alliant offers federal financial aid, including Title IV financial aid, and scholarships for U.S. citizens and legal residents. Financing is available through scholarships, grants, part-time employment, and loans. The federal government, state government, Alliant, and private sources finance these programs.