Trump Administration Raises Federal Student Loan Caps to $20,500

AI Summary

The Trump administration has expanded the federal student loan borrowing limits for graduate students, allowing new students to borrow up to $20,500 annually and professional students up to $50,000. A federal judge's ruling has temporarily frozen the narrower definition of 'professional degree' imposed by the U.S. Department of Education. An updated list now includes over 20 professional degrees, such as registered nursing and physician associates. This change is significant for many students, particularly women who were previously underserved by the borrowing limits.