College Cost Reduction Act Could Move in 119th Congress
Published December 16, 2024
By AACOM Government Relations
Federal Policy
Medical Student
OME Advocate
- The U.S. House of Representatives did not take up the College Cost Reduction Act (CCRA), H.R. 6951, in the waning days of the 118th Congress (despite reports of a potential vote), but the legislation will likely see activity in the 119th Congress.
- The CCRA would overhaul many higher education programs, including eliminating the Grad PLUS Loan Program, capping federal loan amounts to $200,000 per borrower, limiting student loan repayment plan options and establishing a new risk-sharing framework that requires institutions of higher education to make payments to the government based on student loan borrower non-repayment.
- The proposed elimination of the Grad PLUS Loan Program would likely push more osteopathic medical student borrowers to the private student loan market where they will lose access to federal repayment and forgiveness programs, including Public Service Loan Forgiveness.
- AACOM will be monitoring the CCRA and working with our partners to mitigate adverse outcomes to the OME community.
- For more information on the CCRA, you can read this Congressional Research Service analysis and an American Council on Education report, and we encourage you to share with us any concerns or actions taken at aacomgr@aacom.org.
|
