Graduate student debt now accounts for 47% of new student loans, according to the Congressional Budget Office.
Federal graduate student loans have no effective cap unlike undergraduate loans, which are capped at $57,500 in Federal Student Aid.
This has been the case since 2006, when federal graduate student loans were capped at $18,500.
The average student debt for a master's degree for the 1999-2000 school year came in at $36,600, compared with $55,540 in 2016.
The bipartisan debt-ceiling deal mandates student loan payments must resume by Aug. 30.
Persons:
Biden's, —, Sandra Black, Lesley Turner, Jeffrey Dunning, Joe Biden's, Donald Trump, Trump, Biden
Organizations:
Street, Service, Research, Grad PLUS, Universities, Congressional, Federal, Federal Student Aid, Congress, CBO, Grad, Biden, Secretary, Republican, Street Journal, White, Politico, Department
Locations:
Texas