Advocacy Brief: Department of Education to Increase Health Professions Student Loan Limits
In response to a September 2007 group letter from ACP and other medical organizations, Secretary of Education Margaret Spellings, the Department of Education has agreed to raise the combined aggregate Stafford loan limit for health professions students from $189,125 to $224,000. Secretary Spellings sent a letter to AAMC President and CEO Darrell G. Kirch, M.D., last month, in which she announced the increase in student loan limits and promised to provide additional information as soon as possible. This increase is entirely in unsubsidized Stafford loans and will allow medical students to borrow at a 6.8 percent interest rate. The Secretary's letter is available online.
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