House Democrats have rolled out a 1,165-page plan to reauthorize the main federal law governing higher education. There’s a lot in there. Much of it rehashes previous proposals, with a few new ideas and more comprehensive provisions.
Higher education experts are divided on whether the legislation goes far enough, too far or has struck the right balance. Here’s a quick look at a few provisions that some say are worth advancing or revising.
Revamping income-driven repayment: The bill would revise income-driven repayment in a way that would make the forgiveness portion more generous and deliver more help to struggling borrowers.
Under the current student loan plan, borrowers can have their monthly payment capped to a percentage of their earnings, with the balance forgiven after 20 to 25 years. Existing plans allow borrowers to pay nothing if they lack discretionary income, meaning they lack any earnings above 150 percent of the federal poverty line ($18,735 for a single person).