The Senate's reconciliation bill has passed after extensive debate and could bring substantial changes to American higher education. Key provisions include increased taxes on university endowments, a new accountability metric regarding post-graduate income, an expansion of Pell Grants for short-term programs, and the elimination of Grad PLUS loans. Additional impacts include limitations on the Supplemental Nutrition Assistance Program and cuts to Medicaid. The House is under pressure to pass the bill as is due to a looming deadline, with potential amendments likely focused on Medicaid funding cuts.
The legislation increases the tax rate for university endowments, introduces a new metric to hold colleges accountable for student income levels after graduation, expands the Pell Grant to short-term job training programs, and eliminates Grad PLUS loans.
Experts note that though the massive cuts to state subsidies don’t directly concern higher education, the downstream effects could be devastating, as cuts often lead to reduced support for universities.
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