NJCPA Opposes Draft Regulation Excluding Accounting from Professional Degree Designation

The New Jersey Society of Certified Public Accountants (NJCPA) opposes the U.S. Department of Education’s proposal to classify accounting degrees as “non-professional.” The proposal is misguided and risks further weakening the accounting talent pipeline.

At the federal level, the Department’s proposal is part of a broader student-loan restructuring effort that narrowly defines “professional” programs for higher loan limits. While the Department has indicated this is not a value judgment on the accounting profession — or any of the many other professions that were not specifically listed — the practical impact could be reduced access to financing for accounting students at a time when the profession is already facing significant workforce shortages.

At the state level, the NJCPA has taken proactive steps to push back against this outdated perception. Most notably, we drafted and advanced legislation that explicitly designates accounting as a STEM discipline under New Jersey law, recognizing that modern accounting is grounded in technology, data analytics, mathematics, and problem-solving, not just traditional bookkeeping. As stated in the bill, “the common perception of the accounting profession as a numerical-based profession of financial record keeping and analysis is outdated,” and today’s accountants rely heavily on STEM competencies to drive business insight, manage risk, and ensure compliance in a technology-driven economy.

In parallel, the NJCPA continues to advocate for the additional pathway to CPA licensure, expanded pipeline programs and greater alignment between education policy and workforce realities. While the DOE decision is federal, New Jersey’s actions send a clear signal to students, educators, and policymakers that accounting is a high-skill, technology-enabled profession critical to the state’s economy.

We are also closely aligned with AICPA and NASBA advocacy efforts and will continue to engage stakeholders as this issue evolves. 

See also:

• AICPA, State CPA Societies Urge Department of Education to Recognize Accounting Programs as Professional Degree Programs
• Professional Accounting Coalition Expresses Strong Opposition to Draft Regulation Excluding Accounting from Professional Degree Designation