On May 22, the US House of Representatives approved a major legislative package that would direct sweeping cuts to federal student loan programs, including those relied upon by pharmacy students nationwide. This proposal includes language terminating the federal Grad PLUS program, capping federal student loan assistance at $200,000 per borrower ($50,000 for undergraduate degrees, $150,000 for professional education), and eliminating subsidized loans for future borrowers. 

Elimination of the GRAD Plus Loan Program, which assists many of the student pharmacists who utilize federal graduate student loans, could shift a significant number of borrowers toward private, high-interest loans. These private loans often lack the safeguards built into federal student loans programs, while leaving America’s future pharmacy workforce straddled with higher interest rates. The strict credit checks required by these programs also stand as a significant barrier to entry for prospective students seeking a career in pharmacy. 

And crucially, the consequences of these limitations to federal student loans extend far beyond the plight of pharmacy students. According to recent health care workforce analysis by the National Institute of Health Care Management Foundation, health care workforce shortages in the United States are predicted to rise significantly by 2037, with rural communities facing an outsized portion of this burden. These cuts will only exacerbate future workforce shortages, limiting access to care while generating significant strain on the greater health care system.