S-1968 : Still Just a Bill

Graduate Opportunity and Affordable Loans Act

This bill limits federal student loan borrowing for graduate and professional students.

Specifically, the bill terminates the ability of a graduate or professional student to receive a Direct PLUS Loan. Institutions of higher education (IHEs) must notify their prospective and enrolled graduate and professional students that Direct PLUS Loans terminate on June 30, 2024.

Additionally, the bill establishes the aggregate loan limit for Direct Unsubsidized Loans as $65,000 for a graduate student (in addition to the amount borrowed for undergraduate education) and $130,000 for a professional student (in addition to the amount borrowed for undergraduate education).

The bill allows IHEs to set lower loan limits.

Action Timeline

Action DateTypeTextSource
2023-06-14IntroReferralRead twice and referred to the Committee on Health, Education, Labor, and Pensions.Senate
2023-06-14IntroReferralIntroduced in SenateLibrary of Congress

Policy Area :

Education
See Subjects
  • Government lending and loan guarantees
  • Higher education
  • Student aid and college costs
  • Vocational and technical education

Related Bills

See Related Bills