June 16, 2023

Higher Ed Policy Roundup: Vol. 7 - Issue 20

Policy and Advocacy


This Week in Washington

On Wednesday, Republican Senators introduced the Lowering Education Costs and Debt Act, offering their take on solving the student debt crisis. The Lowering Education Costs and Debt Act is comprised of the following five smaller bills:

On Monday, the Education Department (ED) posted an update clarifying the timeline for the start of student loan repayment. According to studentaid.gov, “student loan interest will resume starting on Sept. 1, 2023, and payments will be due starting in October.” The clarification comes after President Biden signed the Fiscal Responsibility Act into law, which said that the pause on student loan payments must end no later than 60 days after June 30, 2023, and which the Biden-Harris Administration had planned to end 60 days after the U.S. Supreme Court ruled on the Administration’s student debt cancellation plan or 60 days after June 30, 2023.

News You Can Use

A student loan survey from Global Strategy Group and Center Forward revealed that most Americans would support capping the amount graduate students and their families can borrow through federal loan programs.

A report from the Consumer Financial Protection Bureau's (CFPB) Office of Research showed that one-in-five student loan borrowers have risk factors indicating they may struggle when payments resume.

Recent Legislation

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

S. 1971Streamlining Accountability and Value in Education (SAVE) Act [Sen. John Cornyn (R-TX)] would simplify the student loan repayment process for borrowers and reform IDR plans.

S. 1970Informed Student Borrower Act [Sen. Steve Daines (R-MT)] would require all student loan borrowers to receive and either acknowledge receipt of student loan entrance counseling materials or actively participate in entrance counseling each award year.

S. 1968The Graduate Opportunity and Affordable Loans (GOAL) Act [Sen. Tommy Tuberville (R-AL)] would eliminate the Grad PLUS program and cap the amount that graduate and professional students can borrow.

S. 1972The College Transparency Act [Sen. Bill Cassidy (R-LA)] would repeal the federal ban on a student unit record system and ensure that students and families have better information as they consider higher education opportunities.

H.R. 4117The College for All Act [Rep. Pramila Jayapal (D-WA-7)] would ensure students from single households earning under $125,000 a year, and married households earning under $250,000 a year, can attend public colleges and universities tuition-free, including Historically Black Colleges and Universities (HBCUs), Tribal Colleges and Universities (TCUs), and other Minority-Serving Institutions (MSIs).

H.R. 4139The Student Loan Refinancing Act [Rep. Michael Turner (R-OH-10)] would permit the refinancing of certain Federal student loans.