Higher Ed Policy Roundup: Vol. 7 - Issue 21

On Wednesday, the House failed to pass an override of President Biden’s veto of the Congressional Review Act that would have blocked the Biden-Harris Administration’s plan to forgive up to $20,000 of student debt. Republicans needed a two-thirds majority to overrule the veto but fell short with a 221-206 vote. The fate of the forgiveness measure remains with the U.S. Supreme Court where a decision is expected this month.

Late last week, the Education Department (ED) published a notice in the Federal Register updating waivers and modifications of statutory and regulatory provisions. The impacted provisions include a clarification that income-driven repayment plan participants are not required to provide proof of income and will be notified when that changes; defaulted borrowers will retain access to ED's Fresh Start initiative thus retaining access to Title IV aid and all repayment plans; and interest that has accrued since March 12, 2020 on federal student loans will not capitalize.

The Office of Federal Student Aid (FSA) released its third-quarter portfolio reports via the FSA Data Center with data and information about federal student aid programs.

The Congressional Research Service published a brief that offers insight into online federal resources that help students plan and pay for postsecondary education.

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

H.R. 4144 – The Federal Assistance to Initiate Repayment (FAIR) Act [Rep. Burgess Owens (R-UT-4)] would allow defaulted borrowers a second chance to rehabilitate their loans and enroll in an affordable repayment plan and eliminate the Biden-Harris Administration's revised income-driven repayment plan.