,,ii #aaith ,,congress #ast ,session ,s4 #cjh ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,january #bi1 #bjbe,mr4 ,tuberville 7for himself and ,mr4 ,cassidy7 introduced the following bill2 which was read twice and referred to the ,committee on ,health1 ,education1 ,labor1 and ,pensions ,a ,,bill ,to modify the annual and aggregate limits of ,federal ,unsubsidized ,stafford ,loans for graduate and professional students1 and to terminate ,federal ,direct ,,plus ,loans for graduate and professional students1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,graduate ,opportunity and ,affordable ,loans ,act 4 #b4 ,loan reforms ,section #dee of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4#ajhg;e7 is amended-- 7#a7 in subsection 7a7-- 7,a7 in paragraph 7#c77;,a7-- 7i7 in the matter preceding clause 7i71 by striking part ,b and inserting part ,b-- 7ii7 beginning in the matter preceding clause 7i71 by striking for any period and all that follows through professional student and inserting the following3 7i7 for any period of instruction beginning on or after ,july #a1 #bjab1 a graduate or professional student 2 and 7iii7 in clause 7ii71 by inserting for any period of instruction beginning on ,july #a1 #bjab and ending on ,june #cj1 #bjbe 7subject to paragraph 7#d77;,c771 before the maximum annual2 and 7,b7 by adding at the end the following3 7#d7 ,graduate and professional annual and aggregate limits for ,unsubsidized ,stafford loans beginning ,july #a1 #bjbe 7,a7 ,annual limits beginning ,july #a1 #bjbe ,subject to subparagraph 7,c71 beginning on ,july #a1 #bjbe1 the maximum annual amount of ,federal ,direct ,unsubsidized ,stafford loans-- 7i7 a graduate student1 who is not a professional student1 may borrow in any academic year 7as defined in section #dha7;a77#b77 or its equivalent shall be #bj1ejj2 and 7ii7 a professional student may borrow in any academic year 7as defined in section #dha7;a77#b77 or its equivalent shall be #dj1ejj4 7,b7 ,aggregate limits beginning ,july #a1 #bjbe ,subject to subparagraph 7,c71 beginning on ,july #a1 #bjbe1 the maximum aggregate amount of ,federal ,direct ,unsubsidized ,stafford loans-- 7i7 a graduate student1 who is not a professional student1 may borrow is #fe1jjj1 in addition to the amount borrowed for undergraduate education2 and 7ii7 a professional student may borrow is #acj1jjj1 in addition to the amount borrowed for undergraduate education4 7,c7 ,phase out provisions ,notwithstanding the date of the applicability of the limits set forth in this paragraph1 an eligible graduate student1 including a professional student1 who received a disbursement of a ,federal ,direct ,unsubsidized ,stafford loan after ,june #cj1 #bjbd1 and before ,july #a1 #bjbe1 for the #bjbd-bjbe award year1 may receive a ,federal ,direct ,unsubsidized ,stafford loan for the #bjbe-bjbf award year in amounts that are subject to the annual and aggregate loan limits applicable prior to ,july #a1 #bjbe1 if the borrower did not graduate prior to the #bjbe-bjbf award year4 7,d7 ,definitions ,in this paragraph3 7i7 ,graduate student ,the term graduate student means a student enrolled in a program at the postbaccalaureate level1 such as a postbaccalaureate certificate1 a master's degree1 or a doctor's degree4 7ii7 ,professional student ,the term professional student means a student enrolled in a doctor's degree-professional practice program4 7iii7 ,postbaccalaureate certificate2 master's degree2 doctor's degree2 doctor's degree professional-practice ,the terms postbaccalaureate certificate1 master's degree1 doctor's degree1 and doctor's degree professional-practice shall have the meaning provided in the #bjbb-bjbc glossary of the ,integrated ,postsecondary ,education ,data ,system 7,,omb ,,no4 #ahei-jehb v4 #cj74 7#e7 ,termination of authority to make ,federal ,direct ,,plus loans to graduate and professional students 7,a7 ,in general ,notwithstanding any other provision of law1 for any period of instruction beginning on or after ,july #a1 #bjbe1 a graduate student 7including a professional student7 shall not be eligible to receive a ,federal ,direct ,,plus ,loan under this part for enrollment in a program of graduate or doctor's degree professional-practice education4 7,b7 ,phase out provisions ,not later than #cj days after the date of enactment of the ,graduate ,opportunity and ,affordable ,loans ,act1 each institution of higher education that enrolls graduate students or professional students shall notify prospective and enrolled graduate students and professional students that the ,federal ,direct ,,plus ,loan program will end for graduate students and professional students on ,june #cj1 #bjbe4 7,c7 ,definitions ,the definitions in paragraph 7#d77;,d7 shall apply to this paragraph4 7#f7 ,institutionally-determined limits ,notwithstanding any other provision of this part1 an eligible institution 7at the discretion of a financial aid administrator at the institution7 may prorate or limit the amount of a loan a student who is enrolled in a program of study at that institution for a period of instruction beginning on or after ,july #a1 #bjbe1 may borrow under this part for an academic year1 as long as any proration or limit is applied consistently to all borrowers entering such program of study4 4