House Republicans Propose Overhaul of Federal Student Loan System
House Republicans Propose Overhaul of Federal Student Loan System On Tuesday, the House education committee’s Republicans unveiled a plan to restructure the federal student loan system. This plan is part of a larger reconciliation package and aims to reduce federal spending by over $330 billion. The proposed changes would impact various aspects of student lending, including repayment plans, Pell Grants, and loan programs for graduate and undergraduate students, as well as parental loans. The proposal eliminates existing income-contingent repayment options,…