Higher Ed Policy Roundup: Vol. 6 - Issue 1

On Monday, President Biden released his budget request for fiscal year 2023. The budget calls for a $752 million increase in funding for Historically Black Colleges and Universities, Minority Serving Institutions, and other low-resourced colleges, doubling the maximum Pell Grant award by 2029 (beginning with a $2,175 increase for the 2023-2024 school year), and a request to permanently exclude forgiven student loan amounts from taxable income. You can read our statement of support here and our blog post providing a deeper look into the budget request here.

Why Biden hasn't scored a political win from canceling $17 billion in student loans.

Senate Democrats urge changes for student loan borrowers in bankruptcy.

The burden of student debt and its potentially harmful impact on young adults today.

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

S. 3952 – Federal Student Right to Know Act [Sen. Ron Wyden (D-OR)] would establish a new and secure higher education data system to make prospective students aware of schools’ graduation rates, graduates’ debt levels and earnings outcomes, and other education and workforce-related measures.

S. 3953 – Affordable Loans for Any Student Act [Sen. Jeff Merkley (D-OR)] improves and streamlines multiple IDR plans, including eliminating interest capitalization and loan origination fees and allows for the automatic recertification of income under IBR plans. A companion bill, H.R. 7288, was introduced in the House by Rep. Rosa DeLauro (D-CT-3).