S. 4039 — Introduced in Senate

II 119th CONGRESS 2d Session S. 4039 IN THE SENATE OF THE UNITED STATES March 10, 2026Ms. Alsobrooks (for herself, Mr. Van Hollen, Mr. Kaine, Ms. Duckworth, Mr. Wyden, Mr. Kim, Ms. Cantwell, Ms. Smith, Ms. Klobuchar, Mr. Blumenthal, Mr. Markey, Mr. Merkley, and Mr. Luján) introduced the following bill; which was read twice and referred to the Committee on Health, Education, Labor, and Pensions A BILL To amend the Higher Education Act of 1965 to reverse the reductions in Federal loan availability for graduate and professional students enacted under Public Law 119–21. 1. Short title This Act may be cited as the Professional Degree Access Restoration Act. 2. Annual and aggregate loan limits for graduate and professional students (a) In General Section 455(a) of the Higher Education Act of 1965 (20 U.S.C. 1087e(a)) is amended— (1) in paragraph (3)— (A) in the paragraph heading, by striking and federal direct plus loans; (B) in subparagraph (A)— (i) by striking the heading for subparagraph (A), and inserting the following: In general; (ii) in the matter preceding clause (i), by inserting before the dash at the end the following: , for any period of instruction beginning on or after July 1, 2012; (iii) in clause (i), by striking for any period of instruction beginning on or after July 1, 2012,; and (iv) in clause (ii), by striking for any period of instruction beginning on July 1, 2012, and ending on June 30, 2026,; and (C) by striking subparagraph (C); and (2) by striking paragraph (4), and redesignating paragraphs (5) through (8) as paragraphs (4) through (7), respectively. (b) Technical and conforming amendments Section 455(a) of the Higher Education Act of 1965 (20 U.S.C. 1087e(a)), as amended by subsection (a), is further amended— (1) in paragraph (4), as redesignated by subsection (a)(2), by striking paragraph (8) and inserting paragraph (7) both places the term appears; (2) in paragraph (5), as redesignated by subsection (a)(2), by striking paragraph (8) and inserting paragraph (7); and (3) in paragraph (7), as redesignated by subsection (a)(2), by striking Paragraphs (3)(C), (4), (5), and (6) shall not apply, and paragraph (3)(A)(ii) shall apply as such paragraph was in effect for periods of instruction ending before June 30, 2026, and inserting (4), and (5) and inserting Paragraphs (4) and (5) shall not apply.