The House Education and Workforce Committee approved of the HR 4508, the Promoting Real Opportunity, Success, and Prosperity through Education Reform Act, or PROSPER Act. It is now waiting to get a vote by the full U.S. House of Representatives, before moving on to the Senate. This bill would reauthorize the Higher Education Act of 1965 (HEA), which governs how colleges and universities must operate, as well as authorizing billions of dollars in aid to students and institutions.
Every HEA reauthorization includes changes to the law, and the PROSPER Act is no different. However, the changes made in PROSPER related to student tuition assistance are concerning. The version of the PROSPER act would:
- Stop the federal government from paying the interest on federal student loans while a student seeks an undergraduate degree
- Cap the amount a graduate student may take out in loans per year to $28,500
- Eliminate the Public Service Loan Forgiveness Program
Please urge your Member of Congress to reject the HEA reauthorization in its current form, and protect student’s access to higher education.