HR 8960 — To amend the Higher Education Act of 1965 to allow participation in certain Fulbright programs to qualify for the repayment plan for public service employees, and for other purposes.

(a) In general (1) Parallel terms, conditions, benefits, and amounts Unless otherwise specified in this part, loans made to borrowers under this part shall have the same terms, conditions, and benefits, and be available in the same amounts, as loans made to borrowers, and first disbursed on June 30, 2010, under sections 1078, 1078–2, 1078–3, and 1078–8 of this title. (2) Designation of loans Loans made to borrowers under this part that, except as otherwise specified in this part, have the same terms, conditions, and benefits as loans made to borrowers under— (A) section 1078 of this title shall be known as “Federal Direct Stafford Loans”; (B) section 1078–2 of this title shall be known as “Federal Direct PLUS Loans”; (C) section 1078–3 of this title shall be known as “Federal Direct Consolidation Loans”; and (D) section 1078–8 of this title shall be known as “Federal Direct Unsubsidized Stafford Loans”. (3) Termination of authority to make interest subsidized loans and Federal Direct PLUS loans to graduate and professional students (A) Termination of authority to make interest subsidized loans to graduate and professional students Subject to subparagraph (B), and notwithstanding any provision of this part or part B— (i) for any period of instruction beginning on or after July 1, 2012, a graduate or professional student shall not be eligible to receive a Federal Direct Stafford loan under this part; and (ii) for any period of instruction beginning on July 1, 2012, and ending on June 30, 2026, the maximum annual amount of Federal Direct Unsubsidized Stafford loans such a student may borrow in any academic year (as defined in section 1088(a)(2) of this title) or its equivalent shall be the maximum annual amount for such student determined under section 1078–8 of this title, plus an amount equal to the amount of Federal Direct Stafford loans the student would have received in the absence of this subparagraph. (B) Exception Subparagraph (A) shall not apply to an individual enrolled in course work specified in paragraph (3)(B) or (4)(B) of section 1091(b) of this title. (C) Termination of authority to make Federal Direct PLUS loans to graduate and professional students Subject to paragraph (8) and notwithstanding any provision of this part or part B, for any period of instruction beginning on or after July 1, 2026, a graduate or professional student shall not be eligible to receive a Federal Direct PLUS Loan under this part. (4) Graduate and professional annual and aggregate limits for Federal Direct Unsubsidized Stafford loans beginning July 1, 2026 (A) Annual limits beginning July 1, 2026 Subject to paragraphs (7)(A) and (8), beginning on July 1, 2026, the maximum annual amount of Federal Direct Unsubsidized Stafford loans— (i) a graduate student, who is not a professional student, may borrow in any academic year or its equivalent shall be $20,500; and (ii) a professional student may borrow in any academic year or its equivalent shall be $50,000. (B) Aggregate limits Subject to paragraphs (6), (7)(A), and (8), beginning on July 1, 2026, the maximum aggregate amount of Federal Direct Unsubsidized Stafford loans, in addition to the amount borrowed for undergraduate education, that— (i) a graduate student— (I) who is not (and has not been) a professional student, may borrow for programs of study described in subparagraph (C)(i) shall be $100,000; or (II) who is (or has been) a professional student, may borrow for programs of study described in subparagraph (C)(i) shall be an amount equal to— (aa) $200,000; minus (bb) the amount such student borrowed for programs of study described in subparagraph (C)(ii); and (ii) a professional student— (I) who is not (and has not been) a graduate student, may borrow for programs of study described in subparagraph (C)(ii) shall be $200,000; or (II) who is (or has been) a graduate student, may borrow for programs of study described in subparagraph (C)(ii) shall be an amount equal to— (aa) $200,000...