Higher Ed Policy Roundup: Vol. 7 - Issue 14

On Monday, the Education Department announced updates to the College Scorecard. Included in the updates are the ability to view median earnings of college graduates four years post-grad, the ratios of students-to-faculty, and earnings and debt by fields of study. The latter update being most significant for students, weighing the cost of a doctoral or graduate degree versus its benefit. View the Scorecard.

The Education Finance Council sent a letter to President Biden and Congressional leaders detailing potential challenges of student loan payment resumption and recommendations.

An analysis from the Government Accountability Office revealed that more than 90 percent of U.S. postsecondary institutions understate or do not include a net price in financial aid offer letters.

Student loan servicers have cut customer services hours, raising concerns about borrower support when payments resume.

The following bill(s) have been recently introduced for consideration by the 118th Congress (2023-2024):

S. 1331 – Public Service Loan Forgiveness (PSLF) Payment Completion Fairness Act [Sen. Robert Menendez (D-NJ)] would eliminate the requirement that a borrower must have employment in a public service job at the time of loan forgiveness. A companion bill, H.R. 2949, was introduced in the House by Rep. Chrissy Houlahan (D-PA-6).

S. 1344 – Emergency Grant Aid for College Students Act [Sen. Tina Smith (D-MN)] would authorize a grant program to help students facing financial emergencies, which often causes students to drop out. A companion bill, H.R. 2967, was introduced in the House by Rep. Joseph Morelle (D-NY-25).

S. 1349 – College Transparency Act [Sen. Bill Cassidy (R-LA)] would establish a postsecondary student data system to provide more outcome information like enrollment, completion, and post-college earnings rates. A companion bill, H.R. 2957, was introduced in the House by Rep. Raja Krishnamoorthi (D-IL-8).

S. 1354 – Child Care for Working Families Act [Sen. Patty Murray (D-WA)] would increase the quality and supply of child care and lower child care costs for graduate students with families. A companion bill, H.R. 2976, was introduced in the House by Rep. Bobby Scott (D-VA-3).