Hi everyone - I wasn't 100% sure where to put this, but I wanted to make sure that everyone applying this year can see a good article that I just came across that summarizes the veterinary-specific changes we are looking at if this budget bill passes the senate this week.....
VIN Student Loan Potential Changes
All-in-all, I am saddened to share this with the future Class of 2030, but I want everyone to have their information. Hopefully this bill doesn't pass, but I think we have to plan for and expect that it will. I know that many have inquired about what specifically will likely happen to Unsubsidized Loans, GradPLUS, IBR, and loan caps - this article does a great job of addressing these questions in a digestible way.
Most notably, the loan caps of 150,000 (House) but now 200,000 (Senate) apply to Direct Unsubsidized Loans. GradPLUS would be eliminated for new borrowers after July 1, 2026 but available for those in programs up until June 30, 2029. This means that the Class of 2029 will have "full access," and the Class of 2030 will have no access, if the bill passes as it stands.
I cannot say that I understand all the breakdowns of IBR as much, but it appears that IBR will also end for those borrowing after July 1, 2026.
If you are able to, call your Senators - heck, call every Senator - today and tell them to vote NO. There are certainly huge problems in higher education, but this will not solve a single thing (plus, the bill is horrific in its future effects on nearly every other facet of society). Tell everyone you know to call and harass them.
Let's hope our collective action can be a Hail Mary.....