ED to MED stands with its 17 national partners and other allied groups in support of the Federal Graduate PLUS Loan Program.
Grad PLUS loans are federal Direct PLUS Loans that help graduate and professional students finance the full cost of their education. Grad PLUS loans are not capped, covering the total cost of attendance, minus any other financial aid received, and can be used to pay for tuition, textbooks, room and board, and other important living expenses. Grad PLUS loans are managed by the U.S. Department of Education.
In December, the House Education and the Workforce Committee passed the PROSPER Act, Republican legislation that would replace the Direct Loan Program, including Grad PLUS loans, with a new Federal ONE Loan Program with limited borrowing for medical and other health professions students.
If Grad PLUS loans are eliminated and replaced with the Federal ONE Loan Program, students who need to borrow additional funds will be forced into the private loan market. Grad PLUS loans provide benefits private loans do not, such as fixed interest rates, loan forgiveness options*, and income-driven repayment plans.
* The PROSPER Act would also eliminate the Public Service Loan Forgiveness (PSLF) Program for new borrowers. Learn how you can advocate to #SavePSLF through the ED to MED campaign.
For many students, Grad PLUS loans make it possible to pursue a career in medicine. Without this loan option, students would most likely struggle to afford their education, hospitals and clinics would struggle to hire enough health care professionals, and communities and patients would suffer the consequences. Tell Congress what the country’s health care landscape would look like without Grad PLUS, and why it’s so vital to save it. Share your #SaveGradPLUS story today.