What Federal Loan Changes Mean for Students Like Me

I’m starting law school this fall, so I’ve been paying closer attention to financial aid changes than I probably ever have before. As I learned more about the upcoming changes to federal student loans, I started thinking about what they could mean for students like me.

Beginning in July 2026, the Graduate PLUS loan program will no longer be available to new borrowers. Other federal loans will still be available, but they’ll come with new annual and lifetime borrowing limits that are lower than what many graduate and professional students currently have. Parent PLUS loans will also have new borrowing caps.

At first, those sounded like technical policy changes. But the more I read, the more I realized they’ll shape how many students pay for graduate school.

Those caps affect who can afford to pursue graduate education and who gets left behind.

Higher education has historically been one of the few paths out of poverty for marginalized communities. First-generation students, students of color, and students from low-income backgrounds rely heavily on federal loans to access graduate and professional programs.

I think about my own path. I’m the first in my family to attend college, graduate school, and now law school. If these changes had happened a few years earlier, I’m not sure how I could have afforded to be where I am today. I know there are many students who may now be asking those same questions.

Students who have already borrowed federal loans in their current graduate program can continue using certain existing loan options while they remain continuously enrolled. But for students beginning graduate or professional school after these changes take effect, the financial landscape will look different. For some, that may mean relying more heavily on private loans, which often have higher interest rates and fewer borrower protections than federal loans.

I’m curious to see how these changes shape who chooses to pursue graduate and professional education in the years ahead. It’s something I’ll be paying attention to.