How the ‘Big, Beautiful Bill’ will affect grad student loans

• The House of Representatives is advancing the GOP’s “Big Beautiful Bill”, which is set to significantly alter how graduate students finance their higher education.
• The bill proposes eliminating the federal Grad PLUS loan program starting July 2026, replacing it with increased but potentially insufficient limits on federal Stafford loans.
• Graduate students would face annual borrowing limits of $20,500 and a lifetime cap $100,000, while professional students could borrow up to $50,000 annually $200,000 lifetime maximum.
• Critics warn the changes could force students into private loans, deter them from pursuing advanced degrees, and exacerbate shortages in high-demand sectors like rural healthcare.
• While Republicans argue the limits will help control college costs, President Donald Trump is scheduled to sign the bill, which will also affect borrowers on the Biden-era SAVE plan from next summer.

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Grad student loans could soon be capped. Here’s what that could mean for you