Pros & Cons of Student Loan Reform
Legislation on College Affordability and Student Debt
More than half of young adults in the U.S. who have attended college took on some debt, including student loans, to pay for their education, according to a 2019 Federal Reserve Board study. The Fed also estimates that the current amount of student loan debt in the United States is more than $1.6 trillion and that 20% of those who still owe money are behind in their payments.
Congress recently took up the issue of student loan reform with both Democrats and Republicans introducing legislation aimed at lowering the cost of college and making it easier to access higher education. The bills would overhaul the Higher Education Act of 1965 …
