S. 359 Analysis Email Update

New Senate Bill Includes Borrower Protections

Last week, the leadership of the Senate Health, Education, Labor and Pensions (HELP) Committee introduced S. 359, the “Student Debt Relief Act of 2007.” It includes a provision to cut interest rates on certain student loans in half, which mirrors the House bill (H.R. 5) passed on January 17. In addition, the new Senate bill would increase Pell grants and improve repayment options for borrowers. Some of the repayment provisions reflect elements of our Plan for Fair Loan Payments.

Nov. Negreg Announcement Email Update

Great news from the Department of Education!

The U.S. Department of Education has announced that it will consider significant changes to student loan repayment rules as part of the “negotiated rulemaking” that starts December 12. The official agenda includes how borrowers’ earnings and family size should be factored into loan payment requirements.

Email update: Commission Pulls Private Loan Proposal

Commission Pulls Private Loan Proposal

Great news: Weve just learned that the misguided private loan proposal has been deleted from the Commission on the Future of Higher Education's draft report. A revised version of the report no longer recommends pushing middle-class students into risky private loans. And it happened just in time: the Commission meets in Washington, D.C., tomorrow (August 10) for what is probably the last time before issuing its final report.

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