Trump administration finalizes federal student loan caps—what it means for borrowers
The final regulation keeps a narrow definition of professional degrees that are subject to the higher annual and lifetime graduate loan limits.
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Students who are currently enrolled in graduate and professional programs who have taken out loans, including grad PLUS loans, to pay for their education are exempt from the new loan limits for up to three years. The new rule also puts in place an aggregate lifetime loan limit of $257,500, which includes undergraduate loans and some grad PLUS loans. Borrowers who retain eligibility for grad PLUS loans by staying continuously enrolled in their program will not be subject to the new aggregate limit during their exemption period of up to three years, or their expected time to credential, whichever is shorter.Students borrowing for the first time after July 1 will want to be aware of the loan limits when deciding what degree to pursue and where to study.
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