U.S. colleges launch private lending to fill graduate loan cap gaps
U.S. colleges are starting to offer or expand private student-loan options to cover funding shortfalls created by new federal borrowing caps and the planned elimination of the Grad PLUS program, according to Business Insider. The shift follows President Donald Trump signing student-loan repayment changes in his spending legislation, including lifetime limits of $100,000 for most graduate borrowing and $200,000 for a small set of professional degrees. Advocates and some lawmakers warn the tighter limits could push more students toward higher-cost private debt with fewer borrower protections.
Highlights
- Washington University School of Law launches a school-funded private loan for incoming law students, offering up to $25,000 annually at a 7.5% fixed rate.
- Education policy experts and lawmakers warn that private student loans—often lacking federal protections and oversight—will see increased demand as federal graduate loan caps persist.
- George Washington University and Duke University expand resources and tools to help graduate students compare private lending options against Grad PLUS loan rates.
According to Business Insider, Washington University School of Law says it is rolling out a school-funded private loan for incoming law students who have exhausted federal options. The program allows borrowing up to $25,000 a year at a fixed 7.5% rate, and the school says it administers the process from counseling through repayment. Dean Stefanie Lindquist says the financial aid office meets with each student to discuss responsible borrowing and repayment strategies. Yale’s School of Public Health also says it is introducing a new program with terms it describes as comparable to, or more competitive than, prior Grad PLUS loans.
We previously reported on SoFi’s recent performance and outlook as its shares stayed under pressure despite new product launches and a partnership expansion. That update highlighted SoFi’s Q4 revenue growth, the rollout of new banking and card products, and mixed expert views on whether near-term technical weakness could give way to a rebound.
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