Accounting leaders are pushing back against a recent decision by the U.S. Department of Education to exclude accounting from the list of graduate programs labeled as “professional” under new federal student loan rules, Accounting Today reports. 

Starting July 1, the new rule will let students in fields like medicine, law, dentistry, and veterinary medicine borrow more money. Graduate accounting students, however, will have lower loan limits because accounting was not counted as a professional degree. Groups such as the American Institute of CPAs, the National Association of State Boards of Accountancy, and state CPA societies have criticized the decision. They argue it ignores the education, licensing, and public-interest responsibilities of the profession. 

Supporters note that becoming a CPA requires a challenging combination of education, exams, work experience, and ongoing training. Licensed accountants play a key role in auditing financial statements, managing tax compliance, and maintaining trust in capital markets and public institutions. 

The Department of Education explains that accounting is different from the other professions on its list because a master’s degree is not always required to become a CPA. Most states require 150 credit hours for licensure, but students can meet this requirement in different ways, not only by earning a specific graduate degree. 

Critics argue that this decision overlooks the broader professional structure of accounting and could make it more difficult financially for students to join the field. They believe that accessible education is essential to ensure a steady supply of future CPAs, especially as firms and agencies continue to face talent shortages.