The One Big Beautiful Bill Act makes some disastrous changes to student loan borrowing.

Starting July 1, 2026, the PLUS loan is no longer available to graduate, PhD, and professional degree students. The new limits for borrowing unsubsidized federally funded loans are $20,500 per year and $100,000 total for masters and doctoral programs. Professional degrees are eligible for $50,000 per year and $200,000 total. Professional degrees include law school, dental school, veterinary school, medical degrees, and most other health care degrees. The graduate PLUS loans have traditionally covered the remainder of the cost of these degrees. There is also imposed a lifetime borrowing limit of $257,500. This includes cost of the undergraduate degree as well.

There is only one vet school in the state of Virginia. To obtain the 4-year Doctorate of Veterinary Medicine, DVM, the cost is $250,083. This includes tuition, fees, health insurance, and estimated living expenses. $250,083 needed for the Vet program minus the $200,000 that can be borrowed from the federal government still leaves $50,000. Once the graduate PLUS loans are no longer available as dictated by The One Big Beautiful Bill Act, hardworking students will likely have to turn to private lending. Interest rates can go up as high as 17.990% for private loans.

By applying the rule of 70, at 17.99% interest rate, amount owed on private loans will double in less than four years. So, $50,000 in private student loans is quickly turned into $100,000!

Let’s look at medical schools next. For training to become a doctor in the US, there is 4 years of medical school followed by 4 years of residency. There are several medical schools in Virginia. One medical school in southwest Virginia with mid-range tuition is $378,958 for tuition, fees, and estimated living expense for 4 years starting in the 2025-2026 year. Now let’s deduct the $200,000 unsubsidized federal loan amount from that figure. That leaves $178,958 which the medical school student will be short on.

Without the option for PLUS loans, the student will likely have to make up this shortfall in private loans. The pay is low for residents. They don’t generally earn enough to pay back the full amount of monthly student loan payment they owe. So, assuming a private loan at 17.990% interest, using the rule of 70 again, that private loan amount will more than double during their four years of residency. This amounts to $357,916 just in private loans. This does not include the original $200,000 from the unsubsidized federal loans and any undergraduate loans.

This debt will be crippling.

How can we continue to attract bright, talented future doctors into the American health care system like this? These student loan changes are a disincentive. And this is at a time when in parts of Southwest Virginia, the wait for a new primary care visit is 6 to 9 months. Congressman Morgan Griffith voted for the elimination of the graduate PLUS loans! He clearly does not want the 9^th district of Virginia to have the most talented and hardworking doctors.

For those of you wanting to obtain a law degree or dental degree, the financial burden will likely be as crippling as the two aforementioned degrees. Anyone that is thinking of attending a graduate, doctoral, or professional degree program, please check out the costs of these programs. Is Morgan Griffith trying to take away your future? Yes, it certainly seems that way! Everyone, please vote. Vote in every election. That’s the only way to take your future back. November 2026, Morgan Griffith is up for reelection. Adam Murphy wants to take his job, because he believes in the future of southwest Virginia. Adam believes it must be easier to obtain an education and secure a rewarding career, not harder.

Dispatch RELEASE — September 19th, 2025