Republicans with the Education and Workforce Committee voted to advance an education reform measure Tuesday, potentially sending to the GOP-controlled House a proposal that looks to eliminate some student loan repayment plans, place limits on how much federal money students can borrow and make eligibility changes for Pell Grants.
Read the full story on Forbes: https://www.forbes.com/sites/antoniopequenoiv/2025/04/29/republicans-advance-student-loan-overhaul-with-new-pell-grant-rules-fewer-repayment-options-heres-what-to-know/
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Read the full story on Forbes: https://www.forbes.com/sites/antoniopequenoiv/2025/04/29/republicans-advance-student-loan-overhaul-with-new-pell-grant-rules-fewer-repayment-options-heres-what-to-know/
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NewsTranscript
00:00Republicans just advanced new rules that may give you less student loan repayment options.
00:05Here's what you need to know.
00:06Republicans with the Education and Workforce Committee voted to advance an education reform measure
00:11that looks to eliminate some student loan repayment plans,
00:15place limits on how much federal money students can borrow,
00:19and make eligibility changes for Pell Grants.
00:22Pell Grants, which provide financial aid to lower-income students,
00:25and were awarded to 31.6% of undergraduate students in 2022 and 2023,
00:32will become less accessible.
00:34The plan looks to change full-time student Pell eligibility
00:37from 12 semester hours each academic year to 30 semester hours.
00:43New borrowing limits on federal loans will also be implemented under the plan,
00:47which would introduce a $50,000 limit for undergraduate students,
00:51a $100,000 limit for graduate students,
00:54and a $150,000 limit for students seeking professional degrees such as doctorates.
01:01The plan would also limit student loan repayment plans to just two options.
01:05That's down from the seven that borrowers currently have.
01:09Read more about the legislation at Forbes.com.