J.D. students get the Professional cap of $50,000 — still leaving a $16,436 annual gap at the median school. LLM and MLS students are classified as Graduate and capped at just $20,500.
The new loan caps create a split system for law students. Your cap depends entirely on your degree type.
If you're pursuing a J.D., you get the $50,000 professional cap. LLM and MLS students? Only $20,500. Same law school, very different borrowing limits.
Three years at $50,000 is $150,000 of a $200,000 limit. Sounds like headroom, but any undergraduate debt cuts into that cushion.
Already enrolled? You may get up to 3 years of grandfathering. Starting fall 2026 or later? The caps apply from day one.
J.D. degrees are on the federal Professional list ($50K cap). LLM and MLS degrees are not — they get the $20,500 graduate cap. At a school like Harvard, an LLM student faces a $65,000+ gap.
| School | Annual COA | Federal Cap | Annual Gap |
|---|---|---|---|
| Stanford Law | $122,577 | $50,000 | −$72,577 |
| Columbia Law | $118,694 | $50,000 | −$68,694 |
| UChicago Law | $117,459 | $50,000 | −$67,459 |
| Harvard Law | $115,792 | $50,000 | −$65,792 |
| Cornell Law | $115,654 | $50,000 | −$65,654 |
| USC Law | $113,992 | $50,000 | −$63,992 |
| Brooklyn Law | $113,474 | $50,000 | −$63,474 |
| Georgetown Law | $113,283 | $50,000 | −$63,283 |
Source: The 2026 Graduate Education Funding Crisis: A Data Report. Full methodology →
Federal loans, merit scholarships, LRAP programs, and private lending options for JD and LLM students.
Read guide →DATALook up any law school: tuition, cap (JD vs LLM), and the gap for your specific degree.
Calculate yours →GUIDERates, terms, and co-signer requirements from lenders targeting law students.
Read guide →TOOLEnter your school and degree type to see your annual gap and how it compounds over three years.
Calculate →Private loan products, scholarship updates, and federal policy changes for law students.
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