Federal proposals to cap graduate student borrowing are forcing universities and prospective students to re-evaluate program affordability and access. Regulators are discussing strict annual and lifetime limits that would constrain financing for many master’s and professional degrees; graduate education advocates and institutions warn caps could suppress enrollment and push students toward higher-cost private loans. Law schools face a special pressure point: more than half of ABA-accredited programs charged full-time tuition above $50,000 in 2024, and a $50,000 annual federal borrowing cap would leave many students funding the gap privately or via institution-created scholarships. Santa Clara University has already guaranteed scholarships to new law students to align tuition with the proposed cap, signaling how institutions may respond with revised pricing and aid models.