Repayment Assistance Plan Explained: Huge Update For 40 Million Borrowers On Republican Student Loan Plan
Headline from Forbes
House GOP proposed a major student loan forgiveness and repayment overhaul. Here’s how the Repayment Assistance Plan would work for 40 million current and new borrowers
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House GOP proposed a major student loan forgiveness and repayment overhaul. Here’s how the Repayment Assistance Plan would work for 40 million current and new borrowers
If enacted, the bill would make profound changes to federal aid and repayment plans, and would cut off or push out student loan forgiveness for millions of borrowers.
The Republican proposal would eliminate Grad PLUS loans, set strict limits on Parent PLUS loans and create a system in which colleges would be on the hook if their students don't repay their loans.
Republican lawmakers on the House Education and Workforce Committee unveiled a plan Tuesday to overhaul the federal student loan system, with changes that include new caps on borrowing and forcing schools to reimburse the government for loans in default.
Republicans are proposing big changes to the federal student loan system, which would affect repayment plans, Pell Grants and a way to hold colleges accountable if students don't repay their loans.
