The U.S. Department of Education recently issued a notice of proposed rulemaking (NPRM) clarifying its proposed definition of a professional degree for the purposes of graduate student loan limits.
The NPRM clarified that the term “professional student” is intended solely to distinguish the programs the department proposes would be eligible for higher student loan limits, as required by the One Big Beautiful Bill Act. The notice also stated that the designation, or lack thereof, of a program as “professional” does not reflect a value judgment by the department regarding whether a borrower graduating from the program is considered a professional.
Effective for loans made on or after July 1, 2026, the proposal would limit borrowing amounts for graduate students in the 11 professional degree programs to an annual limit of $50,000 with an aggregate lifetime limit of $200,000. For all other graduate students, including accounting students, the annual limit would be $20,500 with an aggregate lifetime limit of $100,000.
In December, the AICPA and other accounting organizations sent a letter to Secretary of Education Linda McMahon advocating for accounting to be recognized as a professional degree program.
Comments on the NPRM will be accepted through March 2.