""It sounds like a lot, but not for a student who's in a long and expensive program. You can burn through that amount of money in a couple of years.""
""For many postbaccalaureate students-especially those pursuing the most costly fields of study, like medicine, dentistry and law-that amount likely will not be nearly enough.""
Starting July 1, borrowers with existing Grad PLUS loans will face a new federal cap of $257,500 on total loans. This change, stemming from the One Big Beautiful Bill Act, complicates financial aid advising for college aid officers. Current borrowers in lengthy and costly programs, such as medicine and law, may find this limit insufficient. Those enrolled and completing studies within three years will not be affected. The cap poses significant challenges for students who previously relied on federal loans for tuition and fees.
#grad-plus-loans #federal-loan-limits #student-financial-aid #post-baccalaureate-education #one-big-beautiful-bill-act
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