States expand student loan options as new federal borrowing caps take effect — but they come with trade

States expand student loan options as new federal borrowing caps take effect — but they come with trade

Several states have recently expanded their student loan offerings in response to new federal borrowing restrictions that took effect earlier this year. Beginning July 1, graduate students became subject to an annual federal student loan cap of $20,500, while those pursuing professional degrees in law, dentistry, or medicine can borrow up to $50,000 annually. Previously, graduate students could borrow without such limits. States including Connec…

Federal student loan changes take effect at Texas State

Federal student loan changes took effect on July 1 as part of the One Big Beautiful Bill Act (OBBBA), which was signed into law last year. In a May 6 press release from the Department of Education, the final rule change includes four main provisions: the elimination of the Graduate PLUS program, establishing annual and aggregate loan limits for graduate and professional students, allowing institutions to establish their own programmatic loan cap…