Late last week, the U.S. Department of Education redrew its list of educational programs that are counted as professional degrees for certain loan programs, and omitted several long-standing professions from the list. One on the list is accounting. The definitions of professional degree programs help determine loan eligibility, which can be a critical differentiator for a student striving to complete an accounting degree program and become a CPA.
The list of unincluded traditionally recognized professions include:
- Nursing
- Accountants
- Audiologists
- Architects
- Educators
- Nursing
- Physician assistants
- Physical therapists
- Social workers
The American Institute of CPAs and state CPA societies say they are strongly opposed to any proposal that fails to recognize accounting as a professional degree program.
The organizations are calling on the U.S. Department of Education to explicitly include accounting programs in the regulatory definition of “professional degree programs.” While higher education reforms were included in H.R. 1—commonly referred to as the One Big Beautiful Bill Act—the Department of Education only recently released proposed changes that would reclassify professional degree programs. Unfortunately, accounting is not currently listed among those programs.
“Recognizing accounting programs as professional degree programs is common sense,” said Mark Koziel, CPA, CGMA, the president and CEO of the AICPA. “It reflects the impact accountants make on the lives of individuals, the health of communities and the integrity of financial systems, as well as the rigorous path taken to become a licensed Certified Public Accountant.”
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Becoming a licensed CPA involves meeting specific education requirements, passing the CPA exam, and completing work experience under the supervision of another CPA. CPAs throughout their careers are bound by the ethical requirements of a code of conduct and must complete ongoing professional education, among other requirements, to remain licensed.
The combination of challenging initial licensure requirements and life-long commitment to protecting the public interest are hallmarks of accounting’s status as a professional field. The federal government’s own projections suggest that demand for accountants will continue to outstrip demand for jobs in general through 2034 (+5% growth vs. +3%, according to the Bureau of Labor Statistics), making it even more critical that support mechanisms such as recognition and financial aid are in place.
The AICPA and state CPA societies will continue to advocate strongly for accounting to be recognized as a professional degree program.
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