Yes, I’m aware of the current professional degree lending landscape. But, I’m not sure I agree the cap isn’t going to change the market dynamics and hence the lending landscape.
There is going to be a larger market for private loans for professional degrees now that federal loans are capped at $200K. So, any med school student who was intending to borrow greater than $200K in fed loans will now be forced to go private for the balance of their financing (unless they can pay the balance without debt.)
Typically, when a market size increases significantly, it would be common to see increased competition…via new product offerings and/or new entrants into said market.