"This is a game changer,"
"We are building a future where higher education works for everyone, where students are empowered to succeed, where taxpayers can trust that their investments will be used wisely, and where institutions are held accountable for delivering results."
"makes a lot of sense"
The Department of Education concluded negotiations on proposals to boost accountability in student-loan borrowing and to revise the gainful employment rule. The department proposed eliminating the debt-to-earnings ratio test that ensured borrower payments stayed at no more than 8% of annual earnings, arguing the change would reduce complexity. The package includes new income-driven repayment plans and borrowing caps for graduate and professional students, with some provisions starting in July. Some education policy experts express concern that removing the debt-to-earnings test could weaken protections for students and reduce accountability for institutions.
#student-loans #gainful-employment #debt-to-earnings #income-driven-repayment #higher-education-policy
Read at Business Insider
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