“To amend the definition of professional degree in the Higher Education Act of 1965.”
No CRS summary available for this bill.
This section revises the definition of professional degree under the William D. Ford Federal Direct Loan Program (i.e., Federal Direct Stafford Loans, Unsubsidized Stafford Loans, PLUS Loans, and Consolidation Loans) by (1) striking the cross-reference to 34 CFR 668.2, and (2) establishing a statutory definition to mean a degree signifying completion of academic requirements for beginning practice in a profession requiring licensure and a skill level beyond a bachelor's degree (as determined by the Secretary of Education), including 25 specified degrees (e.g., Pharm.D., J.D., M.D., M.B.A., M.S.W.). (As background, this definition applies in determining loan terms, conditions, benefits, and amounts available to graduate and professional students enrolled in such programs.)