New Student Loan Limits May Force More Borrowers to Take Out Private Loans

COLUMBIA, S.C. — Nursing and health care organizations in South Carolina are raising concerns about a new Trump administration plan that would limit how much certain graduate students can borrow in federal student loans.
Under the rule, several graduate programs, including nursing, physical therapy and education, would no longer be classified as professional degrees. That change would cap federal student loans at a lifetime of $100,000.
Federal officials say the cap is meant to encourage schools to lower tuition.
The Department of Education notes 95% of all nursing students already borrow below the proposed limit, saying in a Monday post to its website that “placing a cap on loans will push the remaining graduate nursing programs to reduce their program costs.”
But some nursing advocates say the cap ignores real financial barriers for many students, especially those who are first-generation or juggling additional expenses beyond tuition.
“I may have to drive 80 miles one way to go to a clinical site. I’ve got to have gas for that. Maybe I’m a single parent who’s trying to change the trajectory of my family’s life. If that’s what I’m doing, I may need to supplement my income by not working seven or five days a week,