American Institute of CPAs (AICPA), along with eight other professional accounting organizations representing approximately 1.5 million accounting and finance professionals, has sent a letter to the U.S. Department of Education opposing a draft regulation that would exclude accounting programs from a professional degree designation.
The Department of Education’s proposed regulation would remove accounting programs from professional degree classification for purposes of graduate student loan eligibility. The coalition said the change would cause significant harm to the accounting profession and undermine the pipeline of future accountants.
“Accounting is a profession. It is state-licensed, built on rigorous education beyond a standard bachelor’s degree, validated by the Uniform CPA Examination and governed by ethics and competency standards,” the coalition wrote. “Students pursuing this pathway should have equitable access to graduate-level financing, consistent with other recognized professional programs that serve critical public needs.”
While acknowledging the Department’s efforts to better align lending policies with workforce needs, the coalition urged regulators to apply a parity-based approach that recognizes accounting as a professional degree and supports long-term workforce sustainability.
The coalition is comprised of the following organizations:
- AGA – formerly the Association of Government Accountants
- American Institute of CPAs (AICPA)
- American Accounting Association (AAA)
- Center for Audit Quality (CAQ)
- Financial Executives International (FEI)
- Institute of Internal Auditors (IIA)
- NABA, Inc.
- National Association of State Boards of Accountancy (NASBA)
- National Council of Philippine American Canadian Accountants (NCPACA)
