"The loan limits-which were prompted by congressional legislation and fleshed out through a contentious rule-making process -cap the amount a graduate student can borrow based on the type of program they enroll in. If their program is deemed "professional," they can borrow up to $50,000 a year or $200,000 total; meanwhile, students in programs labeled "graduate" can only take out half that-$20,500 a year or $100,000 total. Under the proposed regulations, only 11 degree programs are considered professional."
"And now, as the department enters the last stage of finalizing that proposal, a new coalition of health-care organizations is seeking to change the agency's mind. Formally launched Feb. 10, the coalition known as the Alliance for Healthcare Access and Workforce Development is composed of a variety of professional associations, colleges and universities, health systems, and patient advocacy groups. Yet they all share one goal-to head off a loan-limit policy that they say could have disastrous implications for the medical field."
The Alliance for Healthcare Access and Workforce Development formed Feb. 10 and unites professional associations, colleges, health systems, and patient advocates to oppose proposed loan limits. The coalition argues that federal student loan policy should strengthen the education pipeline into essential health-care professions. Proposed regulations cap borrowing for programs labeled professional at $50,000 per year ($200,000 total) and for programs labeled graduate at $20,500 per year ($100,000 total). Only 11 degree programs are currently classified as professional. The legislation also ends the Grad PLUS program that previously allowed borrowing up to cost of attendance. Opponents warn the caps could produce shortages in critical medical fields.
Read at Inside Higher Ed | Higher Education News, Events and Jobs
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