Washington, DC – Today the House Education and Labor Committee released the Lowering Obstacles to Achievement Now (Loan) Act, which proposes significant investments in graduate education, building on President Biden’s Student Loan Debt Relief Plan.
Key provisions include increasing Pell Grant eligibility from 12 semesters to 18 semesters and allows students completing a graduate or professional degree to use any remaining Pell eligibility from their undergraduate studies.
Expanding access to Pell Grant support to graduate students has been a high priority for the Council of Graduate Schools (CGS) for the past two congresses, and CGS applauds the committee for their work on addressing student loans.
“This legislation highlights a commitment to making graduate education more affordable by maximizing the Pell Grant program,” Suzanne T. Ortega, CGS President, said. “This ensures that individuals with exceptional financial need can meet changing workforce needs and pursue degrees essential to their career goals.”
Other key provisions that CGS champions:
- The bill provides graduate and professional students attending public and non-profit institutions with access to subsidized loans at the same interest rate available for unsubsidized loans.
- It will also repeal origination fees for Direct Subsidized and Unsubsidized Loans and Direct PLUS Loans.
- Extends Title IV eligibility to DREAMer students.
CGS commends Speaker Nancy Pelosi (D-CA), Chairman Robert “Bobby” Scott (D-VA), and Subcommittee Chair Frederica Wilson (D-FL) for introducing this important piece of legislation.
Learn more about Pell Grants and how they are instrumental to advancing students from low socio-economic backgrounds and will allow them to pursue graduate degrees to meet workforce demands.
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The Council of Graduate Schools (CGS) is an organization of approximately 500 institutions of higher education in the United States and Canada engaged in graduate education, research, and the preparation of candidates for advanced degrees. The organization’s mission is to improve and advance graduate education, which it accomplishes through advocacy in the federal policy arena, research, and the development and dissemination of best practices.