The Department of Education issued the Reimagining and Improving Student Education – Federal Student Loan Program Final Regulations. Beginning July 1, 2026, the rule will significantly limit eligibility for the highest federal student borrowing levels to 11 designated degree programs: pharmacy, dentistry, veterinary medicine, chiropractic, law, medicine, optometry, osteopathic medicine, podiatry, theology, and clinical psychology. Students in one of these 11 fields will be eligible to borrow up to $50,000 annually with a $200,000 lifetime limit.

At the same time, all other graduate health professional programs including audiology, health administration, nursing, nutrition and dietetics, occupational therapy, physical therapy, psychology, public health, social work, and others are reclassified from “professional” to “graduate”. Young people interested in these career paths are expected to be less likely to apply, enroll, and graduate from these health professions due to limited federal financing and the cost of attendance.

Notable professional organizations including the American Association of Nurse Anesthesiology, American Hospital Association, American Nurses Association, Physician Assistant Education Association and American Academy of Physician Associates,  and National Association of Social Workers issued press releases against the Department of Education’s final regulation, warning about the negative consequences to reducing federal loans for other professional and graduate programs.