Professional Degree Access Restoration Act

S. 4039, the Professional Degree Access Restoration Act, would amend the Higher Education Act of 1965 to reverse reductions in federal loan availability for graduate and professional students. The bill would restore loan limits that were narrowed under the One Big Beautiful Bill Act, which took effect in 2026 and set lower annual and aggregate borrowing caps for students pursuing advanced degrees.

If enacted, this bill would allow graduate and professional students to access higher amounts of federal loans to finance their education. Currently, under the One Big Beautiful Bill Act, first-time professional degree students face an annual loan limit of $50,000 and an aggregate limit of $200,000, while graduate students have an annual limit of $20,500 and an aggregate limit of $100,000. The bill seeks to restore the previous, more generous loan limits that existed before these restrictions took effect.

The bill is currently under committee consideration in the Senate and has not yet been voted on by the full chamber. If it passes and is signed into law, it would primarily benefit students pursuing advanced degrees in fields such as medicine, law, nursing, and other professional programs by making federal loans more accessible and potentially reducing their reliance on private lending options.