Do existing direct graduate loans count against the new graduate loan limit?

If a student has existing federal direct graduate loans, do those loans count against new aggregate limits for graduate loans after July 2026?

i.e. Student has $40,000 in graduate direct loans (not PLUS loans) borrowed for a master’s program years ago. Student now gets accepted to a professional program and matriculates in August 2026. Can this student borrow the full $200,000 for the new professional program or will that limit be reduced by the $40k borrowed for the previous masters program?

There’s a lot of confusion about this and I haven’t found official sources to clarify. Thanks in advance.