119th Congress
S. 308
Graduate Opportunity and Affordable Loans Act
- Introduced
- In committee
- Passed Senate
- Passed House
- To President
- Became law
- Sponsor
- Tommy Tuberville(R-AL)
- Introduced
- Jan 29, 2025
- Policy area
- Education
- Committees
- Senate Committee on Health, Education, Labor, and Pensions
- Official text
- Introduced in Senate · Congress.gov page
Cosponsors (1)
Original cosponsors (1)
- Bill Cassidy (R-LA)
Summary
Summary by the Congressional Research Service· describes the “Introduced in Senate” version
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, 2025.
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.
Roll-call votes
No recorded votes on this bill.
Actions
- Jan 29, 2025 · Senate
Read twice and referred to the Committee on Health, Education, Labor, and Pensions. - Jan 29, 2025
Introduced in Senate