S 308 ยท Graduate Opportunity and Affordable Loans Act
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
- Introduced
- Jan 29, 2025
- Latest action
- Jan 29, 2025
- Sponsor
- Sen. Tommy Tuberville [R-AL]
- Policy area
- Education
- Cosponsors
- 1
Summary
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.
Recent actions
- Jan 29, 2025 Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
- Jan 29, 2025 Introduced in Senate
Votes
No recorded votes are available for this bill.