An on-demand webinar on what the One Big Beautiful Bill Act means for borrowing, repayment, and forgiveness - for incoming students through early-career doctors.
Student loan rules are changing in 2026
Here's what every doctor needs to know
FREE ON-DEMAND WEBINAR
Panacea Financial, a division of Primis Bank, deposit products:
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Hosted by Panacea Financial – the financial platform built for doctors. Loans, banking, and payments – built by doctors for every stage of your career.
$50,000
new hard cap on annual federal borrowing for professional students
$296,540
average total student loan balance among medical trainees
July 1, 2028
deadline to transition off ICR, PAYE,
and SAVE plans
Source: 2025 Panacea Financial Residents & Fellows Survey & H.R.1
Panacea Financial is a division of Primis Bank. Member FDIC.
This webinar is for educational purposes only and is not legal, tax, or financial advice. Federal student loan rules described reflect provisions of H.R.1, the One Big Beautiful Bill Act, as summarized by the American Medical Association. Final regulations and implementation may differ - verify with studentaid.gov or your loan servicer.
BE READY
The rules change in weeks.
Access the webinar now, and stay tuned until the end for answers to your colleagues' most pressing questions.
OBBBA is the shorthand for H.R.1, a federal law that significantly changes how medical, dental, and veterinary students can borrow federal student loans starting July 1, 2026. It eliminates Grad PLUS for new borrowers, caps professional student federal loans at $50,000 per year, and replaces several income-driven repayment plans with a new plan called the Repayment Assistance Plan (RAP).
Yes - for new borrowers on or after July 1, 2026. Borrowers with Federal Direct Loans disbursed before that date who remain in a credentialed program can continue to borrow under current Grad PLUS rules for up to 3 more academic years or their remaining time-to-credential, whichever is less.
Starting July 1, 2026, professional students (including medical, dental, and veterinary students) will be limited to $50,000 per year in federal borrowing, with a $200,000 aggregate cap. Today, students can borrow up to the cost of attendance via Grad PLUS - so the gap will need to be filled with private loans, family support, or institutional aid.
Public Service Loan Forgiveness (PSLF) continues to exist, but eligibility rules are evolving. The webinar covers when to bank on PSLF, when to hedge, and when to skip it based on your career trajectory.
RAP is the new income-driven repayment plan available for federal student loans starting July 1, 2026. Payments range from 1% to 10% of adjusted gross income (with a $10/month minimum), and on-time payments come with a $50 principal reduction plus no interest accrual. It is PSLF-eligible and forgives the remaining balance after 360 payments (30 years).
IBR survives in modified form for borrowers with loans before July 1, 2026. ICR, PAYE, and SAVE are eliminated on July 1, 2028 - borrowers on those plans must actively switch to RAP, current IBR, or the current standard plan before then. If you do nothing, your loans will be auto-moved to RAP (and IBR for any remainder).
Yes. It's free to attend live and free to watch the replay. Registration is required.
Panacea Financial is a financial services company built specifically for doctors, by doctors. It is a division of Primis Bank, Member FDIC, and offers loans, banking, and payments for medical, dental, and veterinary professionals at every career stage.
FAQs
Standard, Graduated, IBR (old vs. new), ICR, and the new Repayment Assistance Plan (RAP) - using a real $400K student loan case study walkthrough.
Repayment plans, compared
An honest take on Public Service Loan Forgiveness eligibility, residency credit risk, employer qualification, and when to bank on it vs. hedge vs. skip.
PSLF in 2026 - still the play?
The borrowing changes (Grad PLUS, Parent PLUS, new federal caps), the repayment changes (RAP, IBR, the death of SAVE), and what's grandfathered.
What's changing under OBBBA
Specific next steps for incoming students, current students, residents and fellows, and early-career doctors. The one thing to do before July 1.
Your move this month - by stage
What you'll learn
On July 1, 2026, the One Big Beautiful Bill Act (OBBBA) reshapes how doctors borrow, repay, and qualify for forgiveness on federal student loans. Whether you're starting school this fall, are mid-program, in residency, or finishing your first attending year - your plan may need to change.
The biggest change to federal student loans in a decade - and it affects you.
Michael Jerkins, MD, M.Ed
Built For Every Stage Of Training
Co-Founder & President, Panacea Financial. Practicing physician (Internal Medicine + Pediatrics, Little Rock, AR). Trained at the University of Tennessee Health Science Center and University of Cincinnati. Built Panacea to solve the financial problems he and his peers faced through medical school, training, and practice.
Your Hosts
Head of In-School Lending and Medical School Insurance at Panacea Financial. Leads the team helping medical, dental, and veterinary students fund their education and protect their income through training. Tal's focus tonight: what changes under the new federal caps and how to think about funding decisions in the new regime.
Tal Frank
Residents & Fellows
Early-Career Doctors
Pre-Matriculation
Current Student
weighing refinance vs. staying federal
in repayment status or evaluating IDR plans
already enrolled and borrowing under current rules
accepted but not yet enrolled in medical, dental, or veterinary school