Higher Ed Policy Roundup: Vol. 5 - Issue 42

On Wednesday, the Congressional Budget Office (CBO) released estimates of the House Committee on Education and Labor’s portion of the Build Back Better Act. Overall, CBO estimates that the bill’s higher education provisions will cost approximately 21.9 billion over 10 years. In a statement regarding the estimates, Rep. Bobby Scott (D-VA) Chairman of the Education and Labor Committee, stated that the Build Back Better Act “makes historic investments in lowering costs for working families…make[s] childcare affordable for families…and expand[s] opportunities by investing in higher education and high-quality job training programs.” The House is set to vote on the Build Back Better Act this week.

FedLoan to transfer millions of student loans to four other servicers and exit the business next year.

Second Circuit affirms that some private student loans are dischargeable in bankruptcy.

Ninety-five percent of student loan borrowers working in nonprofit and public sectors will face difficulty when payments resume, according to a new report released by the Teachers Insurance and Annuity Association.

The following bill(s) have been recently introduced for consideration by the 117th Congress (2021-2022):

H.R. 6002 – [Rep. Young Kim (D-CA-39)] would require a standard financial aid offer form for prospective students.

H.Res.802 – [Rep. Susan Wild (D-PA-7)] a resolution expressing support for the designation of November 2021 as "National College Application Month”. The Biden administration’s related Presidential Proclamation was issued three weeks ago.