Republicans plan to overhaul the federal student loan system. Here's what to know
Republicans on the House education committee publicly unveiled their plan Tuesday to remake the federal student loan system while also cutting more than $330 billion in federal spending to help offset the cost of extending President Trump's tax cuts.
The Republican proposal includes eliminating previous income-contingent loan repayment options and replacing them with one "Repayment Assistance Plan." It also ends the Grad PLUS loan program, sets strict limits on Parent PLUS loans and envisions a new system whereby colleges and universities are forced to reimburse the federal government for a…
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