June 21, 2024

Higher Ed Policy Roundup: Vol. 8 - Issue 21

Policy and Advocacy

This Week in Washington

On Monday, the Congressional Budget Office (CBO) released its budget projections, predicting a $2 trillion federal deficit for fiscal year 2024. According to the budget report titled "An Update to the Budget and Economic Outlook: 2024 to 2034," of the four factors contributing to the increase, nearly $145 billion comes from the Biden-Harris Administration’s changes to the student loan program, making it the number one contributor of the increase. The $2 trillion figure is up from CBO’s projections earlier this year that estimated a federal deficit of $1.6 trillion.

Recent Legislation

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

H.R. 8759 – Public Service Loan Forgiveness Inclusion Act [Rep. Bill Foster (D-IL-11)] would expand the types of repayment plans eligible for Public Service Loan Forgiveness.