POST GRAD Act
The POST GRAD Act would temporarily reinstate the U.S. Department of Education’s authority to make Federal Direct Stafford Loans to graduate and professional students, reversing a prior restriction that ended this option for that group. The authority would be available only through June 30, 2025, after which it would lapse unless further legislation is enacted. The bill also short-circuits certain standard rulemaking procedures, making these changes effective more quickly by exempting the amendments from specified requirements. In short, if enacted, graduate and professional students could again borrow Direct Stafford Loans from the federal government for a limited period, with the program’s expansion implemented without the usual regulatory process.
Key Points
- 1Reinstates the government’s authority to make Federal Direct Stafford Loans to graduate and professional students through June 30, 2025.
- 2The bill’s short title: the Protecting Our Students by Terminating Graduate Rates that Add to Debt Act (POST GRAD Act).
- 3The amendment modifies the HEA heading to read “Temporary Termination” and adds the date constraint to the eligibility clause, signaling a temporary revival of the program.
- 4The amendments would be exempt from certain HEA rulemaking requirements (not subject to sections 482(c) or 492), allowing faster implementation.
- 5The bill does not specify funding; it grants authority to issue loans but relies on existing budgetary mechanisms for loan subsidies and repayments.