Lowering Education Costs and Debt Act
3/13/2024, 1:23 AMSummary of Bill S 1972
Bill 118 s 1972, also known as the Lowering Education Costs and Debt Act, aims to address the rising costs of higher education and the increasing burden of student loan debt in the United States. The bill proposes several measures to make college more affordable and reduce the financial strain on students and their families.One key provision of the bill is the expansion of federal financial aid programs, such as Pell Grants, to provide more assistance to low-income students. This would help cover tuition, fees, and other expenses associated with attending college. Additionally, the bill includes provisions to increase funding for historically black colleges and universities (HBCUs) and other minority-serving institutions, ensuring that all students have access to quality higher education.
Another important aspect of the bill is the establishment of a loan forgiveness program for borrowers who work in public service professions, such as teachers, nurses, and social workers. This program would incentivize individuals to pursue careers that benefit society while also helping them manage their student loan debt. Furthermore, the bill includes measures to improve financial literacy education for students and families, helping them make informed decisions about paying for college and managing their finances. It also seeks to increase transparency around college costs and outcomes, making it easier for students to compare schools and make informed choices about where to attend. Overall, the Lowering Education Costs and Debt Act aims to make higher education more affordable and accessible for all Americans, while also addressing the growing problem of student loan debt. By expanding financial aid, supporting minority-serving institutions, offering loan forgiveness for public service workers, and improving financial literacy, this bill seeks to alleviate the financial burden on students and promote educational opportunity for all.
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Current Status of Bill S 1972
Bill S 1972 is currently in the status of Bill Introduced since June 14, 2023. Bill S 1972 was introduced during Congress 118 and was introduced to the Senate on June 14, 2023. Bill S 1972's most recent activity was Read twice and referred to the Committee on Health, Education, Labor, and Pensions. as of June 14, 2023Bipartisan Support of Bill S 1972
Total Number of Sponsors
2Democrat Sponsors
0Republican Sponsors
2Unaffiliated Sponsors
0Total Number of Cosponsors
10Democrat Cosponsors
0Republican Cosponsors
10Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill S 1972
Primary Policy Focus
EducationAlternate Title(s) of Bill S 1972
Lowering Education Costs and Debt ActLowering Education Costs and Debt ActA bill to increase college transparency and for other purposes.Comments
Most relevant
Sponsors and Cosponsors of S 1972
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