IBR, student loan and Department for Education
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Starting next summer, graduate borrowers can only take out direct loans that have a lower borrowing cap. These are the new limits for graduate school borrowing: For graduate students: up to $20,500 per year; $100,000 total. For professional and medical students: up to $50,000 per year; $200,000 total.
Many student loan borrowers' monthly bills could more than double now that the Saving on a Valuable Education, or SAVE, plan is defunct.