Graduate Degrees and Student Loans: What's the Deal?

The Issue

Some graduate degrees are not considered "professional" degrees, which may impact students' ability to secure loans.

• Professional Degrees: Pharmacy, Dentistry, Law
• Non-Professional Degrees: Nursing, Others

Department of Education's Stance

The Department of Education asserts that:

• Most nursing students will not be significantly affected.
• New loan limits will reduce program costs, minimizing student debt.

Student Concerns

• Nursing students, in particular, fear increased difficulty in funding their education.
• Current Enrollment: Approximately 136,656 students in master's nursing programs.
• Program Duration: Typically 2-3 years.

Financial Implications

• Cost Range: $50,580 - $68,290 for a master's in nursing.
• Additional Costs: On top of undergraduate degree expenses.
• Variability: Depends on whether the institution is public or private.

Legislative Background

• Higher Education Act of 1965: Defines the list of professional degrees.
• Recent Addition: Clinical psychology degrees were added to the list.
• Exclusion: Nursing degrees remain excluded.