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Loyola Faces $39M Loss from New Student Loan Cuts

9/25/2025

23 5 Full Breakdown

Summary

Loyola Faces Funding Cuts

The One Big Beautiful Bill Act (OBBBA) will cut funding for student loans and research, impacting Loyola University.
Graduate PLUS loans will be eliminated, causing a $39 million funding loss for Loyola University graduate programs.
New Parent PLUS caps will restrict borrowing; work-study funding falls from $3.5 million to $500,000, affecting 1,400 students. Loyola plans to delay changes to 2027-2028.

Summary

Borrowers Face Increased Payments

The One Big Beautiful Bill Act (OBBBA), signed July 2025, will raise student loan payments for millions (avg $400; up to $1,034).
It eliminates three IDR plans and creates the Repayment Assistance Plan (RAP), increasing costs.
By July 2028, current borrowers must choose new plans or be auto-enrolled in RAP or IBR; Parent PLUS loans will be capped.

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Loyola Faces Funding Cuts

The One Big Beautiful Bill Act (OBBBA) will cut funding for student loans and research, impacting Loyola University.
Graduate PLUS loans will be eliminated, causing a $39 million funding loss for Loyola University graduate programs.
New Parent PLUS caps will restrict borrowing; work-study funding falls from $3.5 million to $500,000, affecting 1,400 students. Loyola plans to delay changes to 2027-2028.

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