Federal Loan Changes
This federal loan is being eliminated after July 1, 2026.
What is the Grad PLUS Loan?
The new annual federal loan limit for most graduate programs.
What is $20,500?
This borrower may automatically be approved for residency/fellowship deferment if enrolled in these graduate programs. (Must name 4/5)
The length of the EdMed grace period.
What is 9 months?
This type of loan does NOT require a credit check for most borrowers.
What are federal graduate loans?
Federal loans will no longer cover this in full after 2026.
What is the cost of attendance?
The annual cap for professional programs like medical school.
What is $50,000?
These are the 4 different repayment options for an edMed loan.
What are immediate repayment, interest only, fixed payment and full deferment.
The typical minimum payment during residency deferment.
What is $25?
This is the key reason borrowers may need private loans after 2026.
What is a funding gap?
This new repayment plan replaces many existing IDR options.
What is the Repayment Assistance Plan (RAP)?
This is the minimum amount a borrower can request for an edMed loan.
What is $1,000?
This starts after graduation, withdrawal or dropping below half time status.
What is the grace period?
This repayment option requires no payments while in school.
What is full deferment?
This feature for cosigners is available with EdMed but not federal loans.
What is cosigner release?
These borrowers may temporarily keep old federal loan rules.
Who are legacy borrowers?
This is a contractual feature, not a discretionary benefit offered to reduce the overall price of the loan.
What is the auto pay discount?
This repayment option helps prevent balance growth during school.
What is interest-only payments?
A borrower wants flexible repayment based on income after graduation—this loan type is best suited for that feature.
What are federal student loans?
The maximum total length of residency/fellowship deferment.
What is 96 months?
A borrower is concerned about long-term loan cost—this repayment option would minimize total interest paid.
What is immediate repayment (or paying during school)?