Financial Aid
As you prepare to begin medical school, we want to share important information about changes to federal student loans that may affect how you pay for your education.
The One Big Beautiful Bill Act (OBBBA) makes changes to the Graduate PLUS Loan Program and federal loan borrowing limits starting July 1, 2026. As an incoming medical student, these changes apply to you. Please review the information below and visit our OBBBA information page for the most current details.
What does this mean for you as an incoming medical student?
If you are enrolling on or after July 1, 2026:
- You will not be eligible for Graduate PLUS loans.
- You still have options to help cover your cost of attendance. Many medical students choose to use private education loans to supplement federal loans.
Visit our private loans information page to learn what to consider, questions to ask lenders, and how to apply.
What does this mean for your first year?
Federal loans are available to you under the new limits established by the OBBBA. For your first year of medical school, you may borrow up to $50,000 in Federal Direct Unsubsidized Loans. If your total cost of attendance is higher than this amount, you may need to use private loans or other personal resources to cover the remaining expenses, such as tuition, fees, housing, and living costs. Planning early can help you understand how much you may need and what options are available to you.
Loan limits effective July 1, 2026:
|
Student Type
|
Annual Limit
|
Cumulative Limit Inclusive of Graduate School Borrowing
|
Lifetime Limit Inclusive of Undergraduate and Graduate School Borrowing
|
|
Professional (Medical)
|
$50,000
|
$200,000
|
$257,500
|
Medical school is a significant financial investment, and we understand these changes may raise questions. Rutgers Health students are encouraged to contact their campus Office of Financial Aid for personalized guidance. In addition, we recommend that you review the following: OBBBA – What Health Professions Students Need to Know and the RWJMS Educational Debt Management Program information. We are here to support you as you plan for your education.