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Congress Considering Borrowing Limits on Federal Student Loans
- Congress is considering major reforms to federal student loans and Pell Grants in a budget package called the 'big, beautiful bill'.
- This follows the House narrowly passing a version last month and a recent 71-page Senate subcommittee bill focusing on loan and grant changes.
- Both chambers agree to phase out the Grad PLUS loan, restrict Pell Grants to students with 30 credits annually in the House bill, and eliminate eligibility for part-time students.
- Nearly 480,000 Texas students could lose Pell aid, reducing financial assistance by $353 million to $493 million, as experts warn these cuts create barriers for students.
- If enacted, the proposals would limit lifetime borrowing to $257,000, end savings plans like SAVE, and raise monthly payments for many borrowers enrolled in income-driven plans.
14 Articles
14 Articles
Congress considering borrowing limits on federal student loans
Congress considering borrowing limits on student loans
(NewsNation) — Congress is still hashing out the details of President Trump's "big, beautiful" budget bill, but one thing seems clear: Whatever passes will have major implications for student loans. Both the House-passed version and the proposal still being debated in the Senate include several changes to the federal student loan system, an overhaul Senate Republicans say could save taxpayers at least $300 billion. A central feature of both plan…
NewsNation
Congress is considering borrowing limits on federal student loans
(NewsNation) — Congress is still hashing out the details of President Trump's "big, beautiful" budget bill, but one thing seems clear: Whatever passes will have major implications for student loans. Both the House-passed version and the proposal still being debated in the Senate include several changes to the federal student loan system, an overhaul Senate Republicans say could save taxpayers at least $300 billion. A central feature of both plan…
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