Graduate Opportunity and Affordable Loans Act

S 308, the Graduate Opportunity and Affordable Loans Act, changes federal student loan limits for graduate and professional students starting July 1, 2025. It sets new annual limits of $20,500 for regular graduate students and $40,500 for professional students (like those in medical or law programs), with lifetime aggregate limits of $65,000 and $130,000 respectively (excluding undergraduate debt). The bill also phases out eligibility for Federal Direct PLUS Loans for graduate and professional students after June 30, 2025, requiring schools to notify students of this change. These changes directly affect students pursuing master's, doctoral, or professional degree programs enrolled in postbaccalaureate education.