The National Association of State Boards of Accountancy (NASBA) in the US has voiced concern over a federal proposal to reclassify accounting degrees as ‘non-professional’.
In a letter to the US Department of Education, the organisation called for accounting degrees to be restored to ‘professional’ status, saying the proposed shift would sharply reduce federal loan options for graduate students.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Under the new framework outlined by the Department of Education, students enrolled in programmes labelled non-professional would be restricted to $20,500 per year in federal loans.
On the other hand, those in professional programmes could access up to $50,000 annually.
NASBA president and CEO Daniel J. Dustin said: “Classifying accounting students as anything other than professionals fundamentally misrepresents the education and licensure required of CPAs [certified public accountants].
“The American economy, investors and the public rely every day on the work of highly skilled CPAs to make critical decisions involving global trade, business operations and retirement planning.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData“That is why certified public accountancy is a licensed, state-regulated profession. Federal policy should reflect that reality.”
In its submission, NASBA pointed to several risks it believes would arise if accounting is not treated as a professional field.
These include higher financial hurdles for students, making it harder for candidates to pursue CPA licensure amid an existing shortage.
Additionally, NASBA urged the Department of Education to clarify that federal loan classifications don’t supersede states’ authority to regulate and licence public accountancy.
Dustin added: “Federal classifications carry weight beyond loan limits. We urge the Department to correct this designation and avoid unintended consequences that could weaken the CPA pipeline and the public protections it supports.”
NASBA also said it remains open to engaging with federal officials to shape student-loan policy in a way that supports a well-qualified and sustainable accounting workforce.
Recently, the American Institute of Certified Public Accountants also urged the US Department of Education to include accounting in its proposed definition of a ‘professional degree’ programme.
