U.S. Representative Shomari C. Figures, D-Alabama, introduced the Restoring Opportunity for Advanced Education Act on Tuesday. The bill would reverse federal student loan limits for graduate and professional students included in HR1, known as the “One Big Beautiful Bill.”
“Education provides a pathway to extraordinary career opportunities and often a strong future and should be open to all Americans,” Figures said. “With new restrictions on the amounts that students can borrow in federal loans, the president’s ‘One Big Beautiful Bill’ severely limits access to graduate and professional education to a select few who are able to pay for the cost—which can be hundreds of thousands of dollars—up front. My bill gets rid of the federal student loan limits set by HR1 and will help ensure that graduate and professional education are realistic options for all deserving students.”
HR1 capped federal student loans for graduate and professional students and ended Grad PLUS loans for incoming students, according to Figures’ office. The office said the changes could push students toward more expensive private loans.
Graduate students may borrow up to $20,500 annually and $100,000 in total. Professional students may borrow up to $50,000 annually and $200,000 in total. HR1 also set a $257,500 lifetime limit across federal student loan programs.
Figures’ office said the limits fall below the average total cost of a medical degree and law degrees at many institutions. HR1 does not adjust the limits for inflation or rising education costs, meaning the gap between borrowing limits and degree costs could grow.
The Restoring Opportunity for Advanced Education Act would repeal the annual and aggregate borrowing limits for graduate and professional students, eliminate the lifetime borrowing cap and restore the Grad PLUS loan program. The bill would reinstate the federal lending rules that existed before HR1.
Read the bill text or the one-page summary.
