• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

New

Watch Fortune Daily, our new video show that brings you inside the Fortune newsroom and the boardroom

Watch Fortune Daily, our new video show that brings you inside the Fortune newsroom and the boardroom

Watch Fortune Daily, our new video show that brings you inside the Fortune newsroom and the boardroom

Watch Fortune Daily, our new video show that brings you inside the Fortune newsroom and the boardroom

Watch Fortune Daily, our new video show that brings you inside the Fortune newsroom and the boardroom

Watch Fortune Daily, our new video show that brings you inside the Fortune newsroom and the boardroom

Watch Fortune Daily, our new video show that brings you inside the Fortune newsroom and the boardroom

Watch Fortune Daily, our new video show that brings you inside the Fortune newsroom and the boardroom

Watch Fortune Daily, our new video show that brings you inside the Fortune newsroom and the boardroom

Watch Fortune Daily, our new video show that brings you inside the Fortune newsroom and the boardroom

student loans and debt

Trump’s OBBBA will cap federal loans on July 1. Republicans are going over Trump’s head to save student loans for nurses

By
Jacqueline Munis
Jacqueline Munis
Former News Fellow
Down Arrow Button Icon
By
Jacqueline Munis
Jacqueline Munis
Former News Fellow
Down Arrow Button Icon
June 17, 2026, 3:57 AM ET
Doctors and nurses huddle in a hospital hallway
A provision to restructure federal graduate loans will establish a $100,000 cap on graduate degree loans and a $200,000 cap on professional degree loans. John Tlumacki—The Boston Globe/Getty Images
Add Fortune on Google for similar content.

On July 4 last year, President Donald Trump signed the One Big Beautiful Bill Act (OBBBA) into law, sweeping legislation that touches on almost every aspect of American life, from immigration to taxes to education. One notable provision involves caps on federal student loan borrowing, touching on one of Trump’s campaign promises to lower costs for higher education by restructuring federal funding. 

Recommended Video

Starting July 1, federal student loans will be capped at $100,000 on graduate degrees and $200,000 on professional degrees. Previously, students could finance advanced degrees with unlimited Grad PLUS loans, which were eliminated in the bill.  

Given how these caps significantly alter how much federal aid one can use to pay for their graduate programs, there’s a growing contingent in Congress trying to shield one high-demand profession in particular from that cap: nurses. 

“America’s strength has always been rooted in the talent, ingenuity, and determination of its people,” said House Appropriations Committee Chairman Tom Cole (R-Okla.) in a statement. “By investing in their health, skills, and potential, this legislation helps ensure our country remains strong, competitive, and prepared for the future.”

Cole’s comments come as the Republican-led House Appropriations Committee advanced an amendment to its budget bill last week that would increase borrowing limits for master’s and doctoral-level nursing degrees—which would otherwise be limited to the $100,000 cap come July 1. The measure—alongside other provisions that expand funding for nurse training and biomedical research, just as it cut programs for refugees and unaccompanied minors—made it out of committee in a 34-to-28 vote. 

“Following the president’s direction, we have taken a close look at every program funded in this bill and worked to codify the Trump administration’s efforts to end senseless progressive overreach,” Labor, Health and Human Services, Education, and Related Agencies Subcommittee chair Robert Aderholt (R-Ala.) said in the statement. “This bill advances educational opportunities, restores accountability, and ensures taxpayer dollars are directed towards core functions like biomedical research, biodefense infrastructure, and rural health.” 

Nurse educators shortage

In May, Senators Jeff Merkley (D-Ore.) and Roger Wicker (R-Miss.) introduced a bipartisan bill that would classify advanced nursing degrees as professional degrees, raising those students’ borrowing limit. The OBBBA defines professional degrees as medical, dentistry, and law degrees but notably excludes some of the most popular degree programs such as those for a business or an education master’s. The new bill would apply to students training to become nurse practitioners, clinical nurse specialists, certified nurse-midwives, certified registered nurse anesthetists, and other nursing roles that require an advanced degree. 

In December, five Republican representatives sponsored a bill that would expand professional degrees to include nursing and other health care degrees as well as MBAs and master’s degrees in education and theology. A bipartisan group of more than 150 members of Congress signed a letter calling on the Education Department to add nursing to its list of professional degrees in March. Politicians and nursing associations have warned that federal borrowing loan caps will force students into private loans, which typically have higher interest rates, leaving students with more debt over time. 

The bipartisan support for nurse training comes at a critical moment for nursing. For years, the country has faced a nurse shortage, largely owing to the fact that there aren’t enough teachers to meet demand in nursing programs for registered nurses and licensed practical nurses. Nurse educators are required to have at least a master’s degree, which will be harder to obtain with a lifetime borrowing limit on all degrees. The national vacancy rate for nursing faculty sits at 7.2%, according to the American Association of Colleges of Nursing. The federal Health Resources and Services Administration projects that the U.S. registered nurse shortage will extend until 2038, and that the U.S. will only have 70% of the licensed practical nurses it needs by that time.  

Meanwhile, in other higher education fields, the problem is often the opposite: There is typically too much interest in a limited number of spots in academia. Less than a quarter of life and health sciences PhD graduates land a tenure or tenure-track position.

The Department of Education did not respond to Fortune’s request for comment, but it has previously called the caps “commonsense limits,” saying the borrowing limits would pressure universities to lower education costs. According to the Education Data Initiative, the average federal student loan borrower had $39,075 in debt.

The budget amendment is part of the federal budget, meaning that this year’s nursing borrowers will still have a $100,000 cap until Oct. 1 at the earliest, were the bill to become law. 

About the Author
By Jacqueline MunisFormer News Fellow
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in

SpaceX president Gwynne Shotwell during the company's initial public offering (IPO) in New York, on June 12, 2026. (Photo: Michael Nagle/Bloomberg/Getty Images)
NewslettersFortune Tech
What happened in SpaceX’s first earnings report as a public company
By Andrew NuscaAugust 5, 2026
1 hour ago
Bill Ackman, unfiltered: The billionaire hedge fund founder’s take on AI, investing, and why socialism is a ‘disaster’
SuccessFortune 500: Titans and Disruptors of Industry
Bill Ackman, unfiltered: The billionaire hedge fund founder’s take on AI, investing, and why socialism is a ‘disaster’
By Fortune EditorsAugust 5, 2026
2 hours ago
Current ARM mortgage rates report for Aug. 5, 2026
Personal FinanceReal Estate
Current ARM mortgage rates report for Aug. 5, 2026
By Glen Luke FlanaganAugust 5, 2026
3 hours ago
Current refi mortgage rates report for Aug. 5, 2026
Personal FinanceReal Estate
Current refi mortgage rates report for Aug. 5, 2026
By Glen Luke FlanaganAugust 5, 2026
3 hours ago
Mortgage rates today, Aug. 5, 2026
Personal Financemortgages
Mortgage rates today, Aug. 5, 2026
By Glen Luke FlanaganAugust 5, 2026
3 hours ago
Donald Trump, in the middle of speaking, holds up his hand with his pointer finger extended.
EconomyTariffs
Trump’s tariffs were supposed to boost American manufacturing, but the new levies are actually pushing some companies back to China
By Sasha RogelbergAugust 5, 2026
3 hours ago

Most Popular

How Zohran Mamdani's pied-à-terre tax exposed an epidemic of 'ghost cars' instead
Personal Finance
How Zohran Mamdani's pied-à-terre tax exposed an epidemic of 'ghost cars' instead
By Catherina GioinoAugust 4, 2026
1 day ago
Bars, bowling alleys, and movie theaters cost too much to run and visit. Americans have run out of places to hang out and we're paying with our health
North America
Bars, bowling alleys, and movie theaters cost too much to run and visit. Americans have run out of places to hang out and we're paying with our health
By Catherina GioinoAugust 2, 2026
3 days ago
Ray Dalio on the AI bubble nearing 1929, 2000 levels and the lesson people always forget: 'Wealth is not the same as money'
Investing
Ray Dalio on the AI bubble nearing 1929, 2000 levels and the lesson people always forget: 'Wealth is not the same as money'
By Nick LichtenbergAugust 4, 2026
1 day ago
Forget Gen Z: People in their 70s and 80s are some of the earliest Americans to welcome physical AI into their homes and daily routines
AI
Forget Gen Z: People in their 70s and 80s are some of the earliest Americans to welcome physical AI into their homes and daily routines
By Marco Quiroz-GutierrezAugust 3, 2026
2 days ago
Current price of oil as of August 4, 2026
Personal Finance
Current price of oil as of August 4, 2026
By Joseph HostetlerAugust 4, 2026
1 day ago
Scott Bessent is using moves from his hedge fund days to prop up Japan's yen—and America's $40 trillion national debt
Economy
Scott Bessent is using moves from his hedge fund days to prop up Japan's yen—and America's $40 trillion national debt
By Mia OsmonbekovAugust 4, 2026
15 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.