Education Dept. rejects accounting as professional degree

May 7, 2026 - 01:16

The U.S. Department of Education has issued its final rules on which professional degree programs qualify for federal loans of up to $200,000, and accounting did not make the cut. The decision means that graduate students pursuing a master's in accounting or a similar advanced degree will not be able to access the same level of borrowing as those in fields like law, medicine, or business administration.

The move surprised many in the accounting world, where advanced degrees are often required for certification and career advancement. The department's reasoning appears to hinge on the definition of a "professional degree" under federal guidelines. Officials determined that accounting programs, despite their rigor and direct career path, did not meet the criteria set for the highest loan limits.

The change affects students who rely on federal loans to cover the full cost of attendance, including tuition and living expenses. Without the professional degree designation, accounting students will face lower borrowing caps, potentially forcing them to seek private loans or limit their school choices. Industry groups had lobbied for accounting to be included, arguing that the profession demands specialized training and that the debt burden is already high for new graduates.

The final regulations are part of a broader effort by the department to tighten rules around high-dollar federal lending. Critics say the exclusion of accounting could discourage talented students from entering the field, especially those from lower-income backgrounds who depend on maximum loan availability. The department has not indicated any plans to revisit the decision.