The PROSPER Act will bring major reforms to the student financial aid system that is currently not serving the best interests of students and families who are pursuing a postsecondary education. Find out more about how the PROSPER Act will bring accountability and simplicity to the student loan system for future generations.
The PROSPER Act will bring major reforms to the student financial aid system that is currently not serving the best interests of students and families who are pursuing a postsecondary education. Find out more about how the PROSPER Act will bring accountability and simplicity to the student loan system for future generations.
By Jason D. Delisle, Preston Cooper—March 20, 2018
“As the Trump administration designs new regulations and Congress mulls reforms to the Higher Education Act, policymakers should remember that poor student outcomes are not unique to for-profit colleges. Colleges that leave students with earnings too low to repay their debts should not escape scrutiny by virtue of their public ownership or nonprofit tax status. If higher-education reformers truly believe in protecting students and taxpayers, equal accountability rules for all sectors are a must.”
“The [PROSPER Act] is a step in the right direction to bring back competition to the loan market. In the long term, students and parents will be better off if interest rates and tuition bills are lower. The PROSPER Act could reduce the student loan burden on future generations of students.”
“The best way to limit the risk that high-balance borrowers pose to taxpayers is to stop creating so many high-balance borrowers in the first place. Congress could cap or even eliminate federal student loans to graduate students, which represent the bulk of high-balance loans. A proposal by House Republicans would introduce limits on the amount graduate students and parents can borrow from taxpayers. It appears that such a change is long overdue.”
