The One Big Beautiful Bill Act (OBBBA) replaces Grad PLUS with a $100,000 lifetime federal borrowing cap for most graduate students beginning July 1, 2026, and this paper examines how that uniform cap interacts with the multi-stage credential pathways of K–12 educators. Using College Scorecard data on 1,216 bachelor's-level education programs, I find a median one-year debt-to-earnings ratio of 0.61 that improves only 11.1% by five years post-completion—the second-smallest improvement among 12 comparison fields. Because full cumulative graduate borrowing is not directly observable in Scorecard data, I supplement this with an institution-originated graduate debt measure, finding median master's debt of $29,612 and median doctoral debt of $61,714, reaching $96,582 at the 90th percentile. Modeling four educator career pathways under interquartile, median-borrower, and 90th-percentile parameterizations shows the cap is consistently non-binding for entry into teaching, but becomes constrained for administrative advancement and binding for the full doctoral leadership pathway, even for the median modeled borrower. These findings suggest the OBBBA's effects on the educator workforce fall not on entry into the profession, but on advancement through it.