Graduate Opportunity and Affordable Loans Act

Sponsored bySen. Tuberville, Tommy [R-AL]AL· Introduced 29 janvier 2025

Open on Congress.gov

Cosponsors

Actions

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Introduced

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Enacted

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Latest action

Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

29 janvier 2025·1 year ago

Summary

Introduced in Senate · Updated 21 mars 2025

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, 2025.

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.

Timeline

2 actions

Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
29 janvier 2025 · IntroReferral
Introduced in Senate
29 janvier 2025 · IntroReferral

Sponsorship

1 cosponsors

Sponsor

Sen. Tuberville, Tommy [R-AL]AL

Cosponsors

Republican1100%

Republican:Sen. Cassidy, Bill [R-LA]LA

Classification

Policy area

Education

Legislative subjects

Government lending and loan guaranteesHigher educationStudent aid and college costsVocational and technical education

Track Graduate Opportunity and Affordable Loans Act as it moves through Congress