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.

No court has ordered the DOE to pause forgiveness under IBR. The law says that borrowers who have made 20 or 25 years of qualifying payments are entitled to have their remaining student loan balance forgiven.