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Student Loan Limits & Repayment Changes | Salt Lake City News
Student loan rules are getting stricter this week, slashing borrowing caps for grad and professional students while tightening parental loan limits — but at what cost? Graduate students now face annual caps of $20,500 and lifetime limits of $100,000, while med and law students can borrow up to $50,000 yearly with a $200,000 ceiling. Undergrads stay unchanged, but parents now hit a $20,000 cap per child. Meanwhile, repayment options are shrinking: new borrowers get only two plans — the standard or the longer 30-year RAP — and SAVE Plan users must switch within 90 days, risking higher payments…
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