S. 1968 · 118th Congress
Graduate Opportunity and Affordable Loans Act
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
TubervilleSponsor3 cosponsors · 3 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill limits federal student loan borrowing for graduate and professional students.
What it does: CRS summary · Introduced in Senate · Jun 14, 2023
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, 2024.
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Graduate Opportunity and Affordable Loans Act
Latest action (Jun 14, 2023): Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Policy area: Education · Origin: Senate · Introduced: Jun 14, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.