United States · Bill · S
S. 1968 (118th)
Graduate Opportunity and Affordable Loans Act
Introduced
14 June 2023
Last action
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Status
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Sponsors
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Subjects
Discovery layer
Source updated
21 April 2025
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, 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.
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Documents
3 official files
Introduced in Senate (text)
Introduced in Senate (text)
Introduced in Senate · EN · 14 June 2023
Introduced in Senate (PDF)
Introduced in Senate · EN · 14 June 2023
Introduced in Senate
summary · EN · 14 June 2023
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Sources
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- Official source: https://www.congress.gov/bill/118th-congress/senate-bill/1968
- Open data entity: https://api.congress.gov/v3/bill/118/s/1968