Trump Admin Turns Off Spigot For Colleges Charging Boatloads For Grad Degrees
The Department of Education (ED) on Thursday announced several new rules to limit graduate student borrowing in a bid to make higher degrees “more affordable.” The department said it is eliminating the Grad PLUS loan…
The Department of Education (ED) on Thursday announced several new rules to limit graduate student borrowing in a bid to make higher degrees “more affordable.”
The department said it is eliminating the Grad PLUS loan program, which offers limitless loans for graduate programs, saying this measure will “help curb tuition growth,” according to the press release. ED is also establishing “reasonable” loan limits for graduate programs and offering new, income-based repayment plans for loans.
“The Trump Administration is focused on putting students and taxpayers first, which is why we are implementing durable policies to make higher Education more affordable,” Nicholas Kent, Under Secretary of Education, said in a statement. “President Trump’s Working Families Tax Cuts Act addresses longstanding challenges in higher Education and federal student lending, including exorbitant tuition costs, unchecked borrowing, and a confusing maze of repayment options that too often leave borrowers with higher balances despite making payments.”