New Senate Bill Includes Borrower ProtectionsLast 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. Read the Project’s new analysis of the borrower protections in the Senate bill (S. 359).
(This announcement was sent to the Project on Student Debt mailing list on January 29, 2007) |
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