US Education Dept. Rethinks Pro Student Loan Limits
Cincinnati News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
The U.S. Department of Education is considering revisions to the professional student loan eligibility criteria, following the elimination of the Grad Plus program. The new rules, set to take effect in July, cap masters loan borrowing at $20,500 annually and $100,000 total, with professional degrees receiving higher limits. However, this change has sparked controversy, as nurses and other health professionals feel excluded and fear it may exacerbate shortages in their fields. A Federal Reserve study reveals that a third of graduate borrowers already surpass the new masters limits, particularly impacting health programs. The department aims to encourage affordability through tuition cuts, but critics worry about increased private loans and decreased professionals entering essential fields like nursing.
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