Federal Budget and Tax Policy

"President Biden’s American Families Plan (AFP) takes a comprehensive approach to making college more affordable by creating a new federal-state funding partnership, boosting Pell Grant funding, and making significant investments in student success. The plan is a clear recognition that new investments in higher education are fundamental to advancing an equitable recovery......

President Biden's fiscal year 2022 discretionary budget request, released today, is an encouraging step toward making college more affordable and closing persistent racial and economic equity gaps in college enrollment and degree completion.

Letter to the 117th Congress outlining recommendations for closing equity gaps in college attainment, restoring the promise of public higher education, and reducing the burden of student debt.

This week, Congress passed a massive emergency economic relief and appropriations package.

“The COVID-19 pandemic threatens to exacerbate inequities in college access and degree attainment for years to come. Lost jobs…

This brief illustrates that while many borrowers in IDR will repay their loans in full, those who do receive a discharge of remaining debt after 20 or 25 years of responsible payments may face an unaffordable tax liability because these discharged amounts are treated as taxable income under current law.