WASHINGTON, DC — Congress is considering a move that could place borrowing limits on federal student loans.
Lawmakers are still hashing out the details of President Trump’s budget bill, but both the House-passed version and the proposal still being debated in the Senate include several changes to the federal student loan system.
Under the House plan, parents of undergraduates would be limited to borrowing $50,000 total.
The Senate plan would also cap parent borrowing at $65,000 per student.
Senate Republicans say changes could save taxpayers at least $300B, while advocacy groups warn that Republicans’ proposed changes will make it harder for low-income students to afford college and push more borrowers to private lenders.