The Supreme’s will have to go first on their call….
President Biden has annouced paymanets and interest starts back up in Sept. and Oct…….
President Biden vetoed an effort to change the current programs and policies…..
Senate Republicans are unveiling their own plan to tackle student debt as the Supreme Court is set to rule soon on President Biden’s student debt relief program.
The GOP package, called the “Lowering Education Costs and Debt Act,” consists of five bills that the senators say will address the root causes of the student debt issue such as the increasing price of college and students taking out loans they can’t afford.
The package was introduced by five Republican senators: Bill Cassidy (La.), the ranking member of the Senate Health, Education, Labor, and Pensions Committee; Chuck Grassley (Iowa), John Cornyn (Texas), Tommy Tuberville (Ala.) and Tim Scott (S.C.).
The first two bills in the package specifically deal with how colleges give students information before they decide to attend.
The “College Transparency Act (CTA)” would reform the college data reporting system so students have better information about outcomes at schools before committing to a university.
The “Understanding the True Cost of College Act” will require schools to have a similar style for their financial aid letters with a breakdown of the aid so students can better compare offers.
The last three bills deal directly with student loans, including how information is given to borrowers and limiting some borrowing.
The “Informed Student Borrower Act” requires students to be more informed when applying for a loan by acknowledging they received student loan entrance materials or they participated in entrance counseling….
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While Republicans do not control the Senate, they have a shot at getting their bill passed if it attracts support from centrist Democrats such as Joe Manchin (W.Va.)….
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The package was released as the Supreme Court could rule any day on the legality of Biden’s student debt relief, giving Republicans a plan to present if the high court strikes down the president’s program….