Rep. Ritchie Torres Joins Higher Education Leaders at Fordham University for Roundtable on the Impact of New Federal Graduate Loan Caps

Congressman Ritchie Torres (NY-15) joined Fordham University and leaders from higher education and professional associations across New York today for a roundtable discussion examining the real-world impact of new federal borrowing limits and the elimination of Grad PLUS lending set to take effect on July 1, 2026.

Representatives from Columbia University, Hunter College, Pace University, Touro University, Mercy University, and the College of Mount Saint Vincent participated in the discussion, alongside leaders from healthcare and social service organizations and community stakeholders. The roundtable focused on how new annual and aggregate loan caps for graduate and professional programs will affect students, institutional stability, and workforce pipelines in New York City and the Bronx.

Under the forthcoming changes, federal graduate borrowing will be capped at $20,500 annually with a $100,000 aggregate limit, while certain designated professional programs will be capped at $50,000 annually with a $200,000 aggregate limit. The elimination of Grad PLUS loans and the imposition of new caps are expected to create significant financing gaps for students enrolled in high-cost programs, including health care, mental health, education, social work, and advanced nursing pathways.

Participants discussed the U.S. Department of Education’s proposed rule implementing these caps and its definition of “professional degree” programs eligible for higher borrowing limits. Concerns were raised that a narrow definition could exclude critical licensed professions and further limit access to advanced education.

Rep. Torres is the lead sponsor of H.R. 6677, the Professional Degree Access Restoration Act, legislation to restore federal loan access for graduate and professional students and prevent financing gaps that could limit entry into essential professions.Congressman Ritchie Torres (NY-15) joined Fordham University and leaders from higher education and professional associations across New York today for a roundtable discussion examining the real-world impact of new federal borrowing limits and the elimination of Grad PLUS lending set to take effect on July 1, 2026.

Representatives from Columbia University, Hunter College, Pace University, Touro University, Mercy University, and the College of Mount Saint Vincent participated in the discussion, alongside leaders from healthcare and social service organizations and community stakeholders. The roundtable focused on how new annual and aggregate loan caps for graduate and professional programs will affect students, institutional stability, and workforce pipelines in New York City and the Bronx.

Under the forthcoming changes, federal graduate borrowing will be capped at $20,500 annually with a $100,000 aggregate limit, while certain designated professional programs will be capped at $50,000 annually with a $200,000 aggregate limit. The elimination of Grad PLUS loans and the imposition of new caps are expected to create significant financing gaps for students enrolled in high-cost programs, including health care, mental health, education, social work, and advanced nursing pathways.

Participants discussed the U.S. Department of Education’s proposed rule implementing these caps and its definition of “professional degree” programs eligible for higher borrowing limits. Concerns were raised that a narrow definition could exclude critical licensed professions and further limit access to advanced education.

Rep. Torres is the lead sponsor of H.R. 6677, the Professional Degree Access Restoration Act, legislation to restore federal loan access for graduate and professional students and prevent financing gaps that could limit entry into essential professions.