News
Department of Education Publishes Final Rules Without Naming Accounting as a Profession
May 5, 2026 —The Department of Education has published its final "Reimagining and Improving Student Education" rule in the Federal Register. The new regulations go into effect July 1, 2026. The crux of the rules is to put annual and lifetime caps on federal student loans.
Despite formal comments from several professionals and associations, including accounting, the Department did not add to or change its very narrow definition of degree programs that are considered professional. However, in the rule's preamble, the Department expanded on the nature of the term "professional degree," and clarified its narrow use in this context for student loan purposes. The Department also very clearly stated that degrees not defined as "professional" are not of any lesser worth, which is expanded from the draft proposal released in January.
VT CPA and its partners, including AICPA, will continue to work to ensure that accounting is recognized as a profession.
