Graduate students at the University of Iowa could soon face new financial barriers as federal officials move to narrow which advanced degrees qualify as “professional” — a change that would restrict access to key federal loans and shift many students toward private loan lenders.
As of Nov. 24, the U.S. Department of Education, as part of its implementation of the “One Big Beautiful Bill Act,” announced many degrees would no longer be considered professional degrees.
Under the current system, students can borrow up to their full cost of attendance through federal Direct PLUS loans. The new loans introduce hard lifetime caps — $100,000 for programs classified not professional and $200,000 for those considered professional — which could leave students short on funding and push them toward private lenders…