3 Republican lawmakers just countered Biden’s student-loan-forgiveness plans with a bill of their own to help borrowers ‘most in need’ (Business Insider)

    8
    0

    3 Republican lawmakers just countered Biden’s student-loan-forgiveness plans with a bill of their own to help borrowers ‘most in need’ – By Ayelet Sheffey (Business Insider) / Aug 4, 2022

    • Reps. Foxx, Stefanik, and Banks introduced a bill to counter Biden’s student-loan-forgiveness plans.
    • It includes limiting borrowing for grad students and ending targeted loan-forgiveness programs.
    • This comes as Biden is expected to announce broad debt relief in August.

    Three Republican lawmakers think President Joe Biden is going about the $1.7 trillion student-debt crisis the wrong way — and they have some ideas on what he could do instead.

    On Thursday, Reps. Virginia Foxx, Elise Stefanik, and Jim Banks introduced the Responsible Education Assistance Through Loan, or REAL, Reforms Act, which is intended to act as an “alternative” to proposals the Education Department has put forth to reform student-loan programs.

    The bill proposes a series of actions to help the borrowers “most in need,” a fact sheet said, by preventing interest from spiraling on income-driven repayment plans, capping borrowing for graduate students, and ending the Public Service Loan Forgiveness program for new borrowers, which the fact sheet said costs taxpayers and favors those with high incomes.

    CONTINUE > https://www.msn.com/en-us/money/careersandeducation/3-republican-lawmakers-just-countered-biden-s-student-loan-forgiveness-plans-with-a-bill-of-their-own-to-help-borrowers-most-in-need/ar-AA10jiP2?pc=U531&cvid=a66112437a5f4cd098b00de6e8585585

    Previous articleConspiracy theorist Alex Jones ordered to pay $4.1m over false Sandy Hook claims (The Guardian)
    Next articleUS-funded breakthrough battery tech just simply handed over to China (The Register)
    0 0 votes
    Article Rating
    Subscribe
    Notify of
    guest
    0 Comments
    Inline Feedbacks
    View all comments