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119-hr-10206119th CongressWALLET

Restoring Opportunity for Advanced Education Act

Sponsored By: Representative Figures, Shomari [D-AL-2]

Introduced

Summary

Removes statutory loan limits for the Federal Direct Loan program and restores Graduate PLUS loan availability. The bill would amend Section 455(a) of the Higher Education Act to strike loan-limit provisions, reopen Federal Direct PLUS Loans to graduate and professional students, and reorganize and renumber related subsections.

Show full summary
  • Graduate and professional students: Would regain eligibility for Federal Direct PLUS Loans, letting them borrow beyond previously codified caps for graduate-level study.
  • Federal Direct Loan law and administration: Strikes specific loan-limit paragraphs, removes paragraphs (4) and (6), redesignates others, and adjusts cross-references while retaining transitional date references such as July 1, 2012 and a former June 30, 2026 anchor.
  • Budget and program text: The statutory edits in the bill realign the law but do not add new explicit funding authorizations or cost sharing rules within the text.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

Restore Grad PLUS Loan Access

If enacted, graduate and professional students would be able to get Federal Direct PLUS loans again. This change would take effect upon enactment. It would remove statutory loan limits inside the Direct Loan program and apply to periods of instruction beginning on or after July 1, 2012. Borrowers and schools that participate in the Direct Loan program would be affected.

Sponsors & CoSponsors

Sponsor

Figures, Shomari [D-AL-2]

AL • D

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

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