A major federal shift to graduate and professional borrowing limits moves from rulemaking into implementation on July 1, with Grad PLUS eliminated for new borrowers and new annual and aggregate caps taking effect. The changes, which include a generally $20,500 annual cap for graduate programs and higher limits for qualifying professional programs, will alter how students access credit and how institutions manage enrollment, yield, and advising. COHEAO’s modeling, cited in the report “Mapping the Gap,” estimates about $8.7 billion in modeled borrowing above the new annual caps, with patient-facing healthcare programs accounting for roughly $6.1 billion (about 70%). The analysis identifies 166 high-brand institutions accounting for about $3.3 billion in exposure. Institutions are being urged to treat the transition as a campus-wide student success and lifecycle support issue rather than purely a financial-aid compliance change—especially for smaller nonprofit institutions that may have limited alternative private-credit options.