NJ SCR140

Urges the U.S. Department of Education to classify degree programs in education, nursing, physical therapy, dental hygiene, occupational therapy, social work, architecture, and accounting as professional degree programs for federal student loan purposes

Professional degree programs receive higher federal borrowing limits ($50,000/year with $200,000 lifetime cap) compared to standard graduate programs ($20,500/year with $100,000 lifetime cap) under the "One Big Beautiful Bill Act," effective July 1, 2026

Responds to proposed federal rules that would exclude these fields from professional degree designation, limiting students' borrowing capacity during critical workforce shortages

Notes New Jersey faces a projected shortage of more than 24,000 nurses by 2036, the fourth largest shortage in the nation

Over 260,000 students are currently enrolled in Bachelor of Science in Nursing programs and 42,000 in Associate Degree in Nursing programs nationwide who would be affected by the borrowing limits