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Board hears update on proposed Education Department rule that could restrict student loan eligibility for accounting
Summary
Board member Bonnie told the State Board of Accountancy that a U.S. Department of Education proposal would narrow which occupations count as "professional" for certain federal student loan programs; accounting was listed among fields removed in the draft. AICPA and state societies are coordinating a response and a town hall is scheduled.
Bonnie, a board participant, told the State Board of Accountancy that a recent U.S. Department of Education proposal would narrow which credentials qualify as "professional" for certain federal student aid programs and that accounting was included among majors removed in the draft, a change she said could affect students who rely on loans to pursue accounting education. She said the AICPA and state societies are working the accounting portion and that…
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