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GOP House committee proposes budget bill overhauling student loans, extending repayment up to 30 years.
The Republican-led House committee has proposed a budget bill that would overhaul student loan programs, potentially extending repayment terms to 30 years and limiting forgiveness options.
The bill includes a new repayment plan called the Repayment Assistance Plan (RAP), which would standardize payments based on income levels for future borrowers.
Existing borrowers would keep their current plans, but the changes could reduce relief options and add to the debt burden for millions.
The bill aims to save over $330 billion by penalizing colleges with high debt loads.
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El comité republicano de la Cámara de Representantes propone un proyecto de ley de presupuesto para reformar los préstamos estudiantiles, extendiendo el reembolso hasta 30 años.