New Student Loan Rules Could Limit Funding for Nursing Students
WASHINGTON – A proposed rule change by the Department of Education could significantly impact financial aid access for nursing students pursuing advanced degrees, potentially exacerbating the nationS ongoing healthcare workforce shortage. The changes,slated too take effect July 1,2026,redefine which degree programs qualify for higher loan limits,and nurses are not explicitly included on the initial list of “professional” degrees.
Currently, students pursuing professional degrees – such as those in medicine and law – often rely on Grad PLUS loans to finance their education. The proposal eliminates the grad PLUS loan program, which the Department of Education states “has fueled unsustainable student loan borrowing.” it also introduces caps on the Parent PLUS program, limiting borrowing to $20,000 per year per student, with a total limit of $65,000.
This shift means students in programs not designated as “professional” could face lower loan caps. While the Department of Education has not provided an exhaustive list, initial examples of professional degrees focus on fields like law and medicine.
The National Association of Independent Colleges and Universities notes that some professions not explicitly listed could still meet the regulatory requirements to be considered “professional.” Tho, programs like speech-language pathology and physical therapy are specifically cited as potentially impacted.
Nursing advocates are voicing strong concerns. Jennifer Mensik Kennedy, president of the American Nurses Association, stated, “Nurses make up the largest segment of the healthcare workforce and the backbone of our nation’s health system. At a time when healthcare in our country faces a historic nurse shortage and rising demands,limiting nurses’ access to funding for graduate education threatens the very foundation of patient care.”
The proposed rule impacts future student loan borrowing and is part of broader adjustments to higher education finances and funding.