What the New College Affordability Plan Means for You
· Texas Border Business
The U.S. Department of Education has announced new loan limits under the Working Families Tax Cuts Act, aimed at making higher education more affordable. Starting July 1, 2026, the Grad PLUS loan program will be eliminated, reinstating borrowing limits for graduate students at $20,500 annually and $100,000 in total. The Parent PLUS program will also see new caps, limiting borrowing to $20,000 per dependent student. These changes aim to curb excessive borrowing and reduce college costs, addressing the growing student loan debt, which has reached nearly $1.7 trillion, with 25% of borrowers in default.
AI summary · Source: Texas Border Business →
