Higher Ed Policy Roundup: Vol. 6 - Issue 22

On Thursday, Education and Labor Committee Chairman Bobby Scott (D-VA-03) and Higher Education and Workforce Investment Subcommittee Chair Frederica Wilson (D-FL-24) introduced the Lowering Obstacles to Achievement Now (LOAN) Act, which would help to lower the cost of higher education for borrowers. Some of the bill’s key provisions include:

• Reinstating subsidized loans for graduate and professional students;
• Eliminating origination fees on Direct Subsidized and Unsubsidized loans and Direct PLUS loans;
• Lowering interest rates on federal student loans and
• Shortening the Public Service Loan Forgiveness (PSLF) forgiveness requirement from 120 on-time payments to 96 on-time payments.

According to Chairman Scott, “the LOAN Act is the next step we must take to confront the student debt crisis.” Read our Higher Education Act recommendations. 

Millions of student loan borrowers will automatically get a refund for payments made during the pandemic.

The 50-year path that left millions drowning in student loan debt.

The Congressional Research Service published a report outlining the details and potential impact of the Biden administration’s newly announced student loan debt cancellation policy.

There were no relevant student-aid related bills recently introduced for consideration by the 117th Congress (2021-2022).