The Republican-controlled U.S. House of Representatives this week will propose sweeping legislation, The Wall Street Journal reports, that aims to change where Americans go to college, how they pay for it, what they study, and how their success affects the institutions they attend.
The plan includes a radical revamp of the $1.34 trillion federal student loan program. It would put caps on borrowing and eliminate some loan forgiveness programs. The ambitious package—a summary of which was reviewed by the newspaper—would be the biggest overhaul of education policy in decades.
The rising expense of higher education is deeply troubling to many Americans and many increasingly question its value. Despite a steady rise in the share of high-school graduates heading to college, a skills gap has left more than 6 million jobs unfilled, a significant drag on the economy.
The opening House GOP gambit will likely take more than a year to wind through Congress and could undergo substantial revisions before passing into law. And although elements of the bill, titled The Promoting Real Opportunity, Success and Prosperity Through Education Reform (PROSPER) Act, could gain bipartisan support, many universities are likely to oppose the limits on federal student loans and greater competition as the bill proposes new paths to the workforce that could exclude them.
The Wall Street Journal has the full story (Subscription may be required).
