White House Wants Limits on Student Loan Borrowing
Part of amending Higher Education Act
On Monday, the president's administration proposed setting limits on federal student-loan borrowing programs.
White House senior adviser Ivanka Trump said, “We need to modernize our higher education system to make it affordable and more outcome directed so that all Americans, young and old, can learn the skills they need to secure and retain good-paying jobs.”
A number of proposals would change the borrowing and loan repayment process. The administration is asking Congress to simplify loan repayment programs, in part by considering five income-driven plans that would cap monthly repayments at 12.5 percent of the borrower’s discretionary income. Other proposals include greater access to Pell grants and reforming the federal work-study program.
“We think these are absolutely critical reforms and really the most comprehensive approach to higher ed reform in over a decade,” Ms. Trump told reporters. “So we’re very excited to work with members of both sides of the aisle to advance these and other important education initiatives.”
- For senior adviser Ivanka Trump and the work she is doing on issues involving the American worker, career development and education.
For Congress as they consider the reforms and initiatives being suggested by the Trump Administration.