financialaid@osteo.wvsom.edu
304-647-6231
Our basic eligibility requirements are that you must:
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Starting July 1, 2026, new federal loan caps will apply: Annual cap for professional students: $50,000. Total cap for professional loans: $200,000. Lifetime federal loan cap: $257,500.
Undergraduate students are working toward a bachelor’s degree (like a BA or BS). This is usually the first level of college after high school. Graduate students have already earned a bachelor’s degree and are now pursuing an advanced degree, such as a master’s or PhD. Professional students are also graduate-level but are specifically enrolled in programs that lead to a licensed profession, such as medicine, law, pharmacy, or dentistry.
Yes. The $257,500 lifetime federal loan cap includes all federal student loan borrowing, which encompasses both undergraduate and graduate/professional debt.
The new loan caps go into effect on July 1, 2026.
If you borrowed before July 1, 2026, you can continue to borrow under the existing loan limits for 3 additional years or until your expected degree completion date, whichever comes first. The new caps apply to only new borrowers or those who begin borrowing on or after July 1, 2026.
The Grad PLUS Loan Program will be eliminated for new borrowers starting July 1, 2026.
If you received a Grad PLUS loan before July 1, 2026, you will: Retain eligibility under existing terms. Be allowed to continue borrowing Grad PLUS loans for up to 3 additional years or until your expected degree completion date, whichever comes first.
? If you anticipate needing to borrow more than the new federal loan cap to finance your medical degree, you have several options: If you are already enrolled or are enrolling before July 1, 2026, consider taking out at least one Grad PLUS loan to retain your eligibility and previous caps for up to 3 additional years. Explore service-based scholarship programs such as the National Health Service Corps, Scholarships for Disadvantaged Students, and the Health Professions Scholarship Program. Consult with your financial aid office regarding available private student loan options.
Time in medical residency or internships continues to count toward PSLF eligibility. Although earlier versions of the bill sought to exclude this time, that provision was not included in the final bill—a major advocacy win. Beginning July 1, 2026, the Grad PLUS Loan Program will be eliminated for new borrowers. As a result, students may need to rely on private loans, which are not eligible for PSLF. The Department of Education (ED) is developing regulations that may impact which employers qualify under PSLF. The regulations are expected to reflect a March 2025 Executive Order from President Trump, which excludes organizations engaged in activities with a “substantial illegal purpose.” Under proposals released during ED’s July 2025 rulemaking, employees of newly disqualified employers could lose PSLF eligibility and would need to change jobs to remain eligible. The draft regulations will go through a public comment period before being finalized.
For new borrowers after July 1, 2026, only two repayment plans will be available: A standard repayment plan with fixed monthly payments over 10–25 years based on how much you borrowed. The new Repayment Assistance Plan (RAP) — an income-based plan with monthly payments tied to your income and family size. 3 If you are a current borrower (with no new loans after July 1, 2026), you can remain on the current Standard, current Income Based (IBR), Graduated, and Extended repayment plans, or switch to RAP if desired.