Proposed Student Loan Bill Calls for Reform, End of PSLF Program as Alternative to Biden ‘Scheme’

"While President Biden has said he is preparing to make a decision on student loans any day now, a new bill proposed by Republican lawmakers could upend any moves Biden may make. Calling it a 'responsible alternative to Biden’s blanket student loan scheme,' three Representatives – House Republican Conference Chair Elise Stefanik (R-N.Y.), Education and Labor Committee Republican Leader Virginia Foxx (R-N.C.), and Republican Study Committee Chairman Jim Banks (R-Ind.) – introduced a bill last week to reform the country’s federal student loan system," Nexstar Media Wire writes

..."Justin Draeger, president and CEO of the National Association of Student Financial Aid Administrators, said in a release that the organization was 'pleased to see thoughtful proposals in [the House Republicans’] legislation' but was 'alarmed' to see PSLF on the chopping block. According to the NASFAA, this bill takes some aspects from the PROSPER Act, which Foxx introduced in 2017."

NASFAA's "Notable Headlines" section highlights media coverage of financial aid to help members stay up to date with the latest news. Articles included under the notable headlines section are not written by NASFAA, but rather by external sources. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.


Publication Date: 8/7/2022

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