New Student Loan Borrowing Limits For Graduate and Healthcare Programs
Starting July 1, 2026, you will be limited to borrowing $20,500 per year if you are a new student who plans to earn a Doctor of Nursing Practice (DNP) or Master of Science in Nursing (MSN) degree. Other graduate healthcare programs will be subject to the same annual limits, such as:
- Audiologists
- Certified registered nurse anesthetists
- Physician assistants
- Physical therapists
The aggregate lifetime borrowing cap for these degrees will be $100,000.
For many nursing and healthcare programs, these limits may fall well below the total cost of attendance, creating new funding gaps for students. This represents a significant change from Grad PLUS loans, which covered up to the full cost of attendance and will be eliminated on the same date.
Impacts to the Nationwide Nursing Shortage
Limiting access to federal student loan funding for graduate nursing programs comes as the U.S. healthcare system continues to face a nationwide nursing shortage. Advanced practice nurses play a critical role in delivering care, particularly in rural and underserved communities, and demand for these professionals is expected to grow. The U.S. Bureau of Labor Statistics projects strong job growth for advanced practice registered nurses over the next decade.
Nurses represent the largest segment of the healthcare workforce, and their role is essential to patient access and quality of care. As the American Nurses Association has emphasized, policies that limit pathways into nursing education can have lasting effects on the healthcare system.
“Nurses make up the largest segment of the healthcare workforce and are the backbone of our nation’s health system.”
— Jennifer Mensik Kennedy, PhD, MBA, RN, NEA-BC, FAAN, President, American Nurses Association
Leaders in nursing education, including the American Association of Colleges of Nursing, have warned that new federal borrowing limits could reduce enrollment in graduate nursing programs by making advanced degrees less financially accessible. Over time, these constraints may slow the pipeline of qualified nurses entering the workforce, with implications for patient care nationwide.
What to Do If You’re Impacted
If you planned to enroll in a program that lost its “professional degree” status, don’t get discouraged. There are still financing options available to help you achieve your dreams. Here’s what you can do.
Know the Cost of Your Degree
The first thing you’ll want to do is figure out the exact cost of your degree. You should work with your school’s financial aid office to get a very clear picture of what your education will cost.
Apply for Grants and Scholarships
Grants and scholarships are financial aid sources that typically don’t have to be paid back, so you should apply for as much assistance as you can. Many schools, as well as nursing and healthcare organizations, offer grants and scholarships to put toward your education.
If you have a job, you should ask your employer about any employer tuition assistance.
Fill the Gap with Private Loans
Once you’ve exhausted all options for scholarships, grants, and other assistance, you can turn to private loans to fund the rest of your expenses. Look for lenders that offer loans tailored for graduate-level healthcare degrees.
Abe Healthcare Professional loans are specifically designed for nursing, pharmacy, and allied health students, with options to cover up to 100% of school-certified costs and built-in repayment flexibility such as extended deferment and forbearance options. Apply for an Abe Healthcare Professional loan here.