Graduate Opportunity and Affordable Loans Act

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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Timeline

1. 14 June 2023

   Introduced

   Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

   Source: IntroReferral

2. 14 June 2023

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 14 June 2023 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 14 June 2023

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 14 June 2023

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 14 June 2023

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Tuberville, Tommy [R-AL] · R · Sponsor
• Sen. Cassidy, Bill [R-LA] · R · Sponsor
• Sen. Budd, Ted [R-NC] · R · Cosponsor
• Sen. Cornyn, John [R-TX] · R · Cosponsor
• · sshr00 · Standing

Related records

• related to → Lowering Education Costs and Debt Act