#loan-caps

#loan-caps

The loan limits-which were prompted by congressional legislation and fleshed out through a contentious rule-making process -cap the amount a graduate student can borrow based on the type of program they enroll in. If their program is deemed "professional," they can borrow up to $50,000 a year or $200,000 total; meanwhile, students in programs labeled "graduate" can only take out half that-$20,500 a year or $100,000 total. Under the proposed regulations, only 11 degree programs are considered professional.

The Department of Education and its rule-making committee tasked with determining how to implement Congress's latest loan caps reached consensus Thursday, but that doesn't mean everyone involved was happy with the results-or that the policy proposal is guaranteed to be legally sound, some higher education experts say. The key focus of the regulations, which should be published to the Federal Register by early next year, was to determine which degree programs should be eligible for which level of loans.