{
  "id": 18532349,
  "title": "Trump administration’s cap on student loans have borrowers turning to private lenders",
  "url": "https://urgent.news/2026/11/06/trump-administrations-cap-on-student-loans-have-borrowers-turning-to",
  "topic": "business",
  "section": "Business",
  "published": "2026-11-06T16:15:20.000Z",
  "source": {
    "name": "Fast Company",
    "slug": "fast-company",
    "url": "https://www.fastcompany.com/91637241/trump-administrations-cap-student-loans-borrowers-turning-private-lenders"
  },
  "original_language": "en",
  "account": "Chloe Frabotta, a 25-year-old aspiring physician assistant, began her studies in New York City amid uncertainty over federal student loan limits. The Trump administration's \"Big Beautiful Bill\" introduced new caps on loans for graduate programs, reducing the amount students can borrow for professional degrees to $200,000, while other graduate programs were capped at $100,000. Prior to these changes, graduate students could take out federal loans up to the full cost of their degree. With the new limits in place, over half a million borrowers will need to seek additional funding from private lenders. Students, like Frabotta, have turned to private lenders such as SoFi, which reported a $2.9 billion increase in student loan origination in Q3 2021, a nearly doubling from the previous year. Private lenders Sallie Mae and ELFI also reported increased loan origination. Critics argue that the new limits will make it harder for students from low-income families to access higher education, while some schools are responding by offering more financial aid options, scholarships, and even launching their own loan programs.",
  "summary": "New limits on federal student loans filled Chloe Frabotta with anxiety as she began studying in New York City to become a physician assistant. The changes that took effect this fall include caps on loans for particular programs as well as limits on the amount parents can borrow to pay for their children’s schooling. Up until weeks before Frabotta, 25, started her program, it was up in the air…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}