The cost of graduate school can be prohibitive for prospective students without the help of loans. And soon, borrowers planning to take out federal student loans for graduate or professional school will face stricter limits on how much they can take out.

As part of the recently-passed Trump budget bill's student loan shifts , beginning July 1, 2026, graduate students can borrow only $20,500 per year, with a $100,000 lifetime limit. Meanwhile, professional students (think med school or law school) will have an annual cap of $50,000 and an overall borrowing limit of $200,000.

Of course, borrowing less is not inherently a bad thing — the less you borrow, the less you will have to repay later , plus interest. However, the new cap means some students "will fall short" on getting the f

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