The One Big Beautiful Bill (OBBB) introduced significant changes to student loan limits, leaving graduate and professional schools and programs with significant uncertainty and little guidance as they navigate the changes.
A new survey conducted by six associations, including ACE, Navigating the One Big Beautiful Bill Act: Graduate and Professional School Responses to Federal Student Loan Changes, captures insights from campus administrators and leaders on how the elimination of Grad PLUS loans, the new borrowing limits for graduate and professional students, and the revised definition of professional degrees are all beginning to affect students and campuses.
These recent changes are only beginning to be felt by institutions, however. “Early evidence from across the graduate and professional education administrators surveyed suggests that the sector is in a transitional ‘wait-and-see’ phase as institutions, schools, and programs formulate strategic responses to OBBB,” the survey authors write.
As many institutions brace for the potential impact on their programs, from enrollment to degree completion, highlights from the survey’s findings may prepare campuses for the financial changes their students will face in the coming months and inform what they can do to support their students.
Navigating Financial Aid Changes on Campus
The One Big Beautiful Bill passed in 2025, but many of its changes to financial aid have been implemented only recently. While the impacts have not yet fully hit campuses, the survey responses did highlight that many students are already beginning to worry about their ability to pay for school as their financial aid access changes.
- Half of the respondents (50%) shared that students were demonstrating more concern for their financial status than usual.
Recognizing these concerns, some institutions are proactively seeking ways to ease the potential financial burden on students and create new pathways for them to acquire their credential.
- 20% indicated their institutions were establishing new partnerships with private lenders or alternative financing providers.
- 19% were providing new or increased institutional grant, scholarship, or other non-loan financial aid to students.
These are just the start of actions institutions are taking to ensure students can afford their programs, and many of the respondents (32%) indicated their schools and programs were still deciding what changes to make.
Identifying Additional Information Needs
As changes to federal student loans for graduate and professional degrees continue to take effect, survey respondents highlighted a clear need for greater information from their peers, as well as projections and data on the potential effects of the OBBB’s implementation.
- 45% shared that the most useful information needed would be benchmarking on how peer institutions are responding to these changes.
- 28% felt that they needed projections on the financial impact on students under the new borrowing limits.
Additional needs emphasized by respondents included data on enrollment and applicant trends, guidance on communicating changes to students, and best practices for developing financing programs.
As campus leaders navigate changes to federal loans and the resulting uncertainty, the higher education community should work to ensure affordability for students pursuing advanced degrees.
About the Survey
ACE, the Association of American Law Schools (AALS), the American Association of Colleges of Nursing (AACN), the Association of American Medical Colleges (AAMC), the Council of Graduate Schools (CGS), and the National Association of College and University Business Officers (NACUBO) partnered to conduct the survey.
The survey captured more than 750 responses, with 43% of respondents serving at public four-year institutions, 31% at four-year private not-for-profit institutions, 22% at graduate-only institutions, 3% at for-profit institutions, and 2% at other institution types.