The Yale School of Public Health has announced a new student loan program designed to aid those affected by recent federal loan cuts. This initiative comes in the wake of the elimination of the federal Grad PLUS loan program, which will take effect on July 1, 2024, under the new One Big Beautiful Bill Act, signed into law by President Donald Trump.
On December 9, 2023, the school shared details via social media, promising that the new loan option would provide “comparable, if not more competitive, loan terms compared to previous Grad PLUS loans.” The announcement highlights the institution’s commitment to supporting its students amid significant changes to federal student loan programs.
The Grad PLUS program previously allowed graduate students to borrow up to the full cost of attendance for their programs. The One Big Beautiful Bill Act introduces new borrowing caps and eligibility changes that are expected to affect millions of borrowers across the country. Existing borrowers who have already taken out Grad PLUS loans will retain their original terms, as they are grandfathered into the program.
Changes in Borrowing Limits
Starting with the 2026-27 academic year, new students at the School of Public Health will no longer have access to Grad PLUS loans. Instead, the borrowing limit for graduate students will be capped at $20,500 per year, with an overall lifetime limit of $100,000. For professional students, these caps will be set at $50,000 per year, with a lifetime limit of $200,000. Notably, fields such as nursing, social work, and public health have been excluded from the list of professional degrees, meaning these lower caps will apply to students in those disciplines.
The admissions webpage for the School of Public Health states, “We also anticipate changes to annual and overall loan limits, though we’re still waiting on final guidance from the Department of Education.” This uncertainty adds to the challenges students face as they navigate their financial futures.
University Challenges and Future Implications
In addition to the federal changes to student loans, Yale University is grappling with cuts to research funding and an increased tax on its endowment investment returns. In early December, the University issued a warning about potential future layoffs to address budget shortfalls, indicating a broader financial strain on the institution.
The School of Public Health’s announcement, titled “Yale stepping up to fill federal loan gap,” concluded with a commitment to provide more information and application details in the near future. As the situation evolves, students and prospective applicants will be watching closely for updates on this new loan program and its potential impact on their educational paths.
Overall, the Yale School of Public Health’s initiative reflects a proactive approach to support students facing financial challenges amid significant shifts in federal student loan policy. The commitment to provide competitive loan options aims to ensure that future public health professionals can pursue their education without undue financial burden.
