https://www.ed.gov/about/news/press-release/us-department-of-education-finalizes-landmark-rule-lower-college-costs-and-simplify-student-loan-repayment
I think the student loan overhaul is long overdue. Capping loan amounts is a first step to prevent education costs from spiraling even higher. Colleges have been artificially inflating tuition far beyond the actual cost of educating a student because the government will continue backing the loans. Tiering those limits by degree type, especially for professional programs, also makes a lot of sense.
That said, one criticism is that the plan includes theology among the higher limits while omitting engineering.
Theology is listed as a "professional degree" (requiring licensing).
Engineering is a 4-5 year degree (usually 5). No licensing. Not a "professional degree".
https://www.ed.gov/media/document/rise-final-rule-fact-sheet-113947.pdf"The definition includes a list of 11 core program fields: pharmacy (Pharm.D.), dentistry (D.D.S.
or D.M.D.), veterinary medicine (D.V.M.), chiropractic (D.C. or D.C.M.), law (L.L.B. or J.D.),
medicine (M.D.), optometry (O.D.), osteopathic medicine (D.O.), podiatry (D.P.M., D.P., or
Pod.D.), theology (M.Div., or M.H.L.), and clinical psychology (Psy.D. or Ph.D.).
Nearly all of
these fields have long been classified as professional degrees under the Department’s existing
regulations,4 and no program has lost its professional degree classification under the final rule.
The Department’s definition also contains a multi-part test that other programs must meet to be
eligible for the higher loan limits.
To be classified as a professional degree, the degree:(1) Signifies both completion of the academic requirements for beginning practice in a given
profession, and a level of professional skill beyond that normally required for a bachelor's
degree;
(2) Is generally at the doctoral level,5 and that requires at least six academic years of
postsecondary education coursework for completion, including at least two years of post-
baccalaureate level coursework;
(3) Generally requires professional licensure to begin practice; and
(4) Is within a four-digit Classification of Instructional Programs (CIP) code in the same
intermediate group as the core list of 11 program field."
