Department of Education's New Loan Caps for Nursing Degrees Raise Concerns Over Healthcare Workforce
The U.S. Department of Education is implementing a new rule effective July 1, which reclassifies nursing degrees, excluding them from the 'professional degree' category. This change affects federal student loan limits, reducing the borrowing capacity for graduate nursing students. Under the new rule, nursing programs such as Master of Science in Nursing (MSN) and Doctor of Nursing Practice (DNP) will face lower loan caps, set at $20,500 per year and $100,000 total, compared to $50,000 per year and $200,000 total for other professional degrees like medicine and law. The American Nurses Association and other critics warn that this could deter students from pursuing advanced nursing education, exacerbating existing nursing shortages, particularly in rural areas where nurses often serve as primary healthcare providers.