President Donald Trump’s tax and spending cuts package, known as the ‘big beautiful bill,’ is changing the way aspiring doctors can finance their education. Starting this week, there is a cap on federal loans for professional programs such as medical, dental, and law school. It limits federal loans to $50,000 per year, with a total limit of $200,000. This change may lead to a decrease in the number of students pursuing medical school, ultimately exacerbating the existing physician shortage.
Impact on Aspiring Doctors
According to the Association of American Medical Colleges, the median four-year cost of attendance for the class of 2026 was $297,745 for public schools and $408,150 for private schools. Many students rely on federal loans to cover these costs. With the new loan caps, students may have to rely on private loans, which often carry higher interest rates and have limited repayment flexibility.
Eddie Jiang, a recent graduate of Stony Brook University in New York, is reconsidering his plans to attend medical school due to the new loan caps. ‘It’s very jarring to me that money has become this important in my decision to become a doctor,’ Jiang said. Other students, such as Jadyn Sinclair, who was admitted to Brown University’s Program in Liberal Medical Education, are also feeling the impact of the loan caps. Sinclair estimates that medical school will cost her $400,000 over four years and is now considering private loans to cover the costs.
Concerns about Accessibility
There is concern that the new loan caps will make medical school less accessible, particularly for students from low-income backgrounds. The Association of American Medical Colleges says that rising medical school tuition costs are not causally associated with accessible loan programs. Instead, the primary driver of increases in med school costs in recent years has been the rising cost of living, not tuition.
Leslie Turner, associate professor at the University of Chicago Harris School of Public Policy, notes that eliminating generous federal loans may not reduce costs for students. ‘Institutions could provide more grants and scholarships to make up for the difference, but I wouldn’t count on it,’ Turner said. The lack of availability of private student loans may also exacerbate the problem, as many students may not be able to access these loans due to credit score requirements or other factors.
Original reporting: KEYT (Ventura/Santa Barbara) — read the source article.
