Higher Ed Policy Roundup: Vol. 8 - Issue 8

On Monday, President Biden released his budget request for fiscal year 2025. The budget proposal includes:

• $585 million to strengthen institutions of higher education that serve high proportions of Black and low-income students;
• An increase of $280.6 million for loan servicing activities that includes facilitating return to repayment;
• $76.5 million for Student Aid and Borrower Eligibility Reform that will allow the Office of Federal Student Aid to continue to implement the Fostering Undergraduate Talent by Unlocking Resources for Education (FUTURE) Act and the Free Application for Federal Student Aid (FAFSA) Simplification Act;
• $105.2 million for business process operations to centralize and streamline Federal Student Aid customer interactions with programs such as Public Service Loan Forgiveness (PSLF);
• $250.6 million for data management of programs including PSLF and income-driven repayment; and
• Eliminating origination fees. 

The Biden-Harris Administration's new student loan bankruptcy policy makes it easier for borrowers to discharge their federal student loans in bankruptcy.

After months of delays, colleges and universities have started to receive the federal data they need to assemble financial aid offers for incoming students.

There were no relevant student-aid related bills recently introduced for consideration by the 118th Congress (2023-2024).