Professional Degree Access Restoration Act

On December 11, 2025, Rep. Ritchie Torres (D-NY) introduced HR6677, the Professional Degree Access Restoration Act. The bill amends Section 455(a) of the Higher Education Act to reverse the reductions in federal loan availability for graduate and professional students enacted under Public Law 119-21. Specifically, it restores the separate annual and aggregate loan limits for Federal Direct Unsubsidized Stafford loans and Direct PLUS loans for graduate and professional students, removing the caps imposed by the prior law. The bill is in the earliest legislative stage — referred to the House Committee on Education and Workforce with no committee action, hearings, or markup scheduled. It has 36 cosponsors, all Democrats. There is no companion Senate bill. With a Republican-controlled House and Senate in the 119th Congress, passage probability is low in current form. No funding is authorized or appropriated; the bill functions as a statutory reversal of prior caps. If enacted, the money trail runs through the Department of Education's Federal Student Aid office, which would originate and service an estimated $10-15 billion in additional federal loans annually for graduate and professional students. This substitution effect is the causal mechanism: graduate students, when eligible for low-interest, income-driven federal loans with forgiveness options, overwhelmingly choose them over higher-cost private loans. Sallie Mae and SoFi would face reduced origination volume in their private student loan segments. Real market data shows Sallie Mae at $22.93 with a 7-day decline of -3.78% and a 30-day gain of +7.1%. SoFi trades at $15.74 with a sharp 7-day drop of -14.64% and a near-flat 30-day change of -0.88%. The 7-day selloffs — particularly SoFi's — may reflect market recognition of this legislative risk, though the bill's early stage suggests the selling is driven by broader factors. Neither stock's recent movement is primarily attributable to HR6677 given its referral status.