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Trump’s Higher Education Reform Proposes Faster Loan Forgiveness

2019-03-20 23:59
Earlier this month, President Trump promised to sign an executive order tying federal funding to free speech rights on campuses. Today, the White House revealed what it wants Congress to do. NTD’s Holly Kellum has the latest. The White House on Monday proposing a number of changes to the Higher Education Act.. [Ivanka Trump, Advisor to the President] “...to create a more innovative and demand-driven system.” Ivanka Trump says the system change will include things like allowing certain low-income students to use Pell grants for short-term programs, outside of 2- and 4-year degree programs. Another change would expand federal aid for prisoner workforce training. And the administration also wants Congress to reform the federal work-study program to put students in jobs that align with their careers. “Probably the most controversial part of the proposal has to do with limits on the amount students and parents can borrow to pay for school. The administration reasons that if it limits the amount students and parents can borrow through federal loans, schools will compensate by lowering their tuition prices and lowering the debt that students and parents have to pay off.” The White House also wants to merge the 5 tuition-repayment plans into one, and to cap monthly payments to 12.5 percent of the borrower’s discretionary income. It also wants to see loan debt eliminated after 180 months of repayment for all undergrad students. Holly Kellum, NTD News