EDUCATION/GOP: “Americans enrolling in college over the next decade would receive about $15 billion less in subsidies than under current law if House Republicans pass their education bill, according to an official estimate Tuesday [2-6-18].
The bill, unveiled late last year, would eliminate debt-forgiveness programs for future borrowers and allow interest on student loans to accrue sooner. But it would also boost grants—which don’t have to be repaid—for financially strapped borrowers and eliminate fees the government charges borrowers when loans are made. In total, the changes would reduce government spending on student-aid programs by $14.6 billion over the next decade, compared with current law, the Congressional Budget Office said Tuesday.
The biggest change would be the elimination of a program that forgives big portions of student debt after 10 years for borrowers who go on to work in the public sector. Those who have enrolled in the program, known as public-service loan forgiveness, would still qualify for forgiveness. But any borrower who took out loans in summer 2019 or beyond would lose the benefit under the bill.”
-Josh Mitchell, “Student Aid Would Fall by $15 Billion Under GOP Bill, CBO Says,” The Wall Street Journal online, Feb. 6, 2018 05:35pm