New Federal Borrowing Limits Take Effect for U.S. Graduate Students

New federal annual and lifetime borrowing caps for graduate students have taken effect under the 'One Big Beautiful Bill Act,' replacing the previous unlimited federal graduate loan program. The new rules set varying annual and lifetime federal borrowing limits depending on the program type, with a master's program limit set at a little over $20,000 annually. This policy shift means graduate students in programs with tuition exceeding the federal limit will need to secure additional funding sources.