Congress's budget reconciliation bill introduces significant changes to federal financial aid, particularly affecting graduate student loan limits. Graduate loans will be capped at $200,000 for professional degrees and $100,000 for others, while it proposes eliminating the Grad PLUS loan, which has previously allowed students from modest backgrounds to borrow beyond these limits. This shift aims to address financial concerns but may limit access for low- and middle-class students who rely heavily on loans, given their limited access to other forms of aid.
Proponents of the loan program argue that growth is a sign of its success in expanding access; critics say colleges seized the chance to boost profits.
Federal investments in graduate loans... led to a 'big expansion' in graduate programs, increasing student access and encouraging colleges to meet market demand.
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