Republicans on the House education committee are marking up a bill to cap the borrowing of some student loans while preventing new debt relief.
  • House Republicans are reviewing a bill that would overhaul the student-loan system.
  • It proposes limits on the education secretary for getting new forms of relief to borrowers.
  • Democrats introduced their own package to address student debt, but it’s unlikely to advance.
  • @bostonbananarama
    11•10 months ago

    Caps student borrowing. According to the bill’s fact sheet, the bill would cap student-loan borrowing at $50,000 for undergraduate students, $100,000 for graduate students, and $150,000 for students in graduate professional programs.

    What four-year school can someone attend for $50,000? That was the yearly cost of attendance when I went to college twenty years ago. Granted, I attended an expensive private university, but I assume most schools have caught up in the past two decades.

    Will this bill essentially price out low income kids?

    • SeaJ
      3•10 months ago

      State schools are generally around that much for tuition. I think tuition here in Washington is around $10-12k per year for public university.

    • @dogslayeggs
      1•10 months ago

      20 years ago you could go to an in-state public school (without housing and food) for $5k/year in Indiana. Nowadays the same school has a tuition of $16k/year without housing. There are cheaper in-state universities going for around $10k/year, but that’s still a minimum of $40k for 4 years without housing or food or car or health insurance or internet or utilities.