A new federal rule taking effect July 1, 2026 changes how much graduate nursing students can borrow in federal student loans.
The Department of Education’s RISE rule (Reimagining and Improving Student Education) was finalized on April 30, 2026 and takes effect July 1, 2026. It sets a $20,500 annual cap on federal loans for graduate nursing students. The rule designates 11 graduate programs as “professional degrees” that remain eligible for higher federal loan limits of $50,000 per year. Nursing is not among the 11. Physical therapy, nurse anesthesia, and most other allied health fields are also excluded.
What the Rule Changes
Under the pre-RISE system, graduate students in professional degree programs could borrow up to $50,000 per year in federal unsubsidized loans, with a lifetime cap of $200,000.
Under the RISE rule, beginning July 1, only students in 11 designated fields qualify for those higher limits: chiropractic, clinical psychology, dentistry, law, medicine, optometry, osteopathic medicine, pharmacy, podiatry, theology, and veterinary medicine.
All other graduate students, including all graduate nursing students, are capped at $20,500 per year and $100,000 over a lifetime.
The cap applies to graduate-level borrowing only. Undergraduate nursing students are not affected.
Programs Affected by the Cap
The new caps apply to any post-baccalaureate nursing degree program for new students after July 1, 2026, including:
- Nurse Practitioners (MSN, DNP)
- Certified Nurse-Midwives (CNM)
- Clinical Nurse Specialists (CNS)
- Nurse Anesthetists (CRNA)
- Nursing faculty pursuing PhDs and DNPs
- Any registered nurse pursuing a graduate nursing degree
Cost and Salary Context
CRNA programs typically cost between $50,000 and $200,000 in total tuition, with an average of about $117,749 across in-state programs at more than 140 schools. That average total exceeds the rule’s $100,000 lifetime federal loan cap, and annual tuition at many programs runs above the $20,500 annual cap.
Median salaries by credential, according to the U.S. Bureau of Labor Statistics (May 2024): registered nurses earn a median of $93,600; nurse practitioners earn a median of $129,210; certified nurse-midwives earn a median of $128,790; and certified registered nurse anesthetists earn a median of $223,210.
How the Cap Could Affect Graduate Enrollment and Income
The $20,500 annual federal loan cap sits below the typical cost of many graduate nursing programs. Where federal loans no longer cover the full cost, students would need to close the gap through other means, such as private loans, institutional aid, scholarships, employer tuition reimbursement, or personal funds.
In its statement on the rule, the ANA said the change restricts access to loan support for post-baccalaureate nursing education. Nursing organizations supporting the Nursing is a Professional Degree Act have raised the concern that reduced federal loan access could make advanced degrees less financially attainable for some nurses, particularly those who relied on federal loans to fund graduate study. If fewer nurses can finance these programs, fewer may enroll in them.
That has a direct connection to income. The median salary figures above show a gap between what a registered nurse earns and what credentials such as NP, CRNA, and CNM earn. A nurse who does not pursue an advanced degree generally remains on the earning level tied to their current credential rather than moving to the higher median associated with a graduate degree. At scale, a drop in graduate enrollment would also affect the supply of nurse practitioners, nurse anesthetists, nurse-midwives, clinical nurse specialists, and nursing faculty.
Timeline
April 30, 2026 — The Department of Education finalized the RISE rule. The same day, the American Nurses Association (ANA) released a formal statement on the rule, describing it as “profoundly dismaying” and stating that it restricts access to loan support for post-baccalaureate nursing education. By that point, more than 245,000 nurses and nurse advocates had signed a petition opposing the rule.
May 19, 2026 — A coalition of 24 state attorneys general filed a legal challenge to the rule. The same day, Senators Jeff Merkley (D-OR) and Roger Wicker (R-MS) introduced the Nursing is a Professional Degree Act, legislation that would restore the $50,000 annual loan cap for graduate nursing students and classify nursing as a professional degree program under federal law.
May 29, 2026 — Eleven nursing organizations filed the Nurse-Forward Lawsuit in federal court, seeking an injunction to block the rule before it takes effect. The organizations include the ANA, the American Association of Nurse Anesthesiology (AANA), the American College of Nurse-Midwives (ACNM), the Association of Women’s Health, Obstetric and Neonatal Nurses (AWHONN), the National Association of Clinical Nurse Specialists (NACNS), and six other groups. The ANA has separately announced its intent to file its own independent lawsuit.
July 1, 2026 — The RISE rule is scheduled to take effect, applying the new loan caps to new graduate nursing students.
Legal and Legislative Activity
The Nurse-Forward Lawsuit — Filed May 29, 2026 by 11 organizations. The suit argues that the Department of Education’s rule is arbitrary, capricious, and inconsistent with the underlying law, and seeks a preliminary injunction to halt implementation while the case is heard.
The 24-State Attorney General Coalition — Filed May 19, 2026, a separate legal challenge brought by 24 state attorneys general.
The Nursing is a Professional Degree Act — Introduced May 19, 2026 by Senators Merkley and Wicker. The bill would classify post-baccalaureate nursing programs as professional degree programs under federal law and restore the $50,000 annual loan cap for graduate nursing students. More than 250 organizations have stated support for the bill.
Background
The exclusion of nursing from the federal “professional degree” designation predates the RISE rule. The designation has been a subject of discussion in nursing organizations for years prior to this rulemaking.
Frequently Asked Questions
Does this affect nurses who are already enrolled in graduate programs? The RISE rule’s new caps apply to students beginning graduate programs on or after July 1, 2026. Nurses already enrolled and currently borrowing may qualify for an interim exception that preserves access to the higher loan limits for up to three years, but only if they remain continuously enrolled. Currently enrolled students should confirm their eligibility for the interim exception with their program’s financial aid office.
What is the specific loan cap under the new rule for nursing students? Starting July 1, 2026, new graduate nursing students are capped at $20,500 per year in federal unsubsidized loans and $100,000 over a lifetime. This compares to $50,000 per year and $200,000 lifetime for students in the 11 designated professional degree programs.
Which programs are in the “professional degree” category under the RISE rule? The 11 designated programs are chiropractic, clinical psychology, dentistry, law, medicine, optometry, osteopathic medicine, pharmacy, podiatry, theology, and veterinary medicine. Nursing, physical therapy, and nurse anesthesia are not included.
Is the rule definitely going into effect July 1? July 1, 2026 is the scheduled date. Both the Nurse-Forward Lawsuit and the 24-state attorney general challenge are seeking court injunctions to block implementation before that date, so a federal court could halt the rule before it takes effect.
What is the Nursing is a Professional Degree Act? It is bipartisan Senate legislation introduced by Senators Merkley (D-OR) and Wicker (R-MS) in May 2026. If passed, it would classify post-baccalaureate nursing programs as professional degree programs under federal law and restore the $50,000 annual loan cap for graduate nursing students. More than 250 organizations support the bill.
What types of nursing programs are affected by the cap? Any post-baccalaureate nursing degree program for new students after July 1, 2026, including the Master of Science in Nursing (MSN), Doctor of Nursing Practice (DNP), PhD in Nursing, CRNA programs, CNM programs, CNS programs, and NP programs of all specialties.
Does this affect undergraduate nursing students? No. The new caps apply to graduate-level borrowing only.
Sources
- ANA — National Nursing Organizations File Nurse-Forward Lawsuit
- Sens. Merkley and Wicker — Nursing is a Professional Degree Act
- ANA — Statement on DOE Finalized Graduate Student Loan Rulemaking
- NPR — States Sue Over Student Loan Limits on Nursing Degrees
- Nurse.org — ANA and 10 Nursing Groups Sue the DOE
- U.S. Bureau of Labor Statistics — Occupational Outlook Handbook (May 2024 wage data for RNs and APRNs)
