New US education department rules cut student tuition and simplify loans: What to know about repayment caps
The US Department of Education has proposed new rules under the Working Families Tax Cuts Act to reduce higher education costs and simplify student loan repayment. The proposal would eliminate Grad PLUS loans, introduce annual and lifetime borrowing caps for graduate and professional students, allow institutions to set programme level limits, and replace multiple repayment options with simplified standard and income driven plans. Borrowers in default would receive a second rehabilitation opportunity under federal reforms.
The US Department of Education has proposed new rules under the Working Families Tax Cuts Act to reduce higher education costs and simplify student loan repayment. The proposal would eliminate Grad PLUS loans, introduce annual and lifetime borrowing caps for graduate and professional students, allow institutions to set programme level limits, and replace multiple repayment options with simplified standard and income driven plans. Borrowers in default would receive a second rehabilitation opportunity under federal reforms.
