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Publication Date: April 18, 2008
Subject: Aggregate Loan Limit for Graduate and Professional Students Preparing for the Health Professions Summary: This letter announces an increase in the aggregate loan limit for graduate and professional students enrolled in certain approved health profession programs. Posted on 04-18-2008 Section 428H(d) of the Higher Education Act of 1965, as amended, provides the authority for the Secretary to increase aggregate unsubsidized loan limits for high cost programs of study. Since 1996, the Department has used that authority to increase the aggregate loan limits for graduate and professional students enrolled in certain approved health profession programs (as defined by Section 703(a) of the Public Health Act and as further described in the Department of Health and Human Services Student Financial Aid Guidelines Notebook at Section 104.3.2, and in subsequent guidance issued by the Department of Education) to $189,125. However, in recognition of the fact that the Higher Education Reconciliation Act of 2005 (Pub. L. 109-171) provided for an increase in certain annual loan limits, the Department is now making a conforming adjustment to the aggregate loan limits for graduate and professional students enrolledin certain approved health profession programs to account for the potential additional borrowing that may occur as a result of the increased annual loan limits. Using increased annual loan limits in the calculation to determine the aggregate loan limit for graduate and professional students enrolled in certain approved health profession programs would yield an amount of $223,793. After a careful examination of this issue, including a determination that the increase would not increase the overall cost of the Federal student loan programs, the Secretary has decided to increase the aggregate loan limit, effective as of the date of this letter, to a rounded-up amount of $224,000. |