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Reading more into the House GOP student loan bill today. It would make it virtually impossible for students from low income families to become dentists, physicians, or veterinarians. The loan limits are so low it’s similar to caps in the 90s

New IBR is very different from an exec order. It’s in statute and it was promised to folks who borrowed based on those terms existing. But new GOP bill appears to rewrite those contracts to take it away retroactively. Very different from prior proposals

Student loan reform only based on the preferences of one party will only last until the next time the other party is in charge. If you can retroactively change the terms of the loans then the other party can do that too at a later date

The new house GOP bill does NOT grandfather in payment plans. What to know.

Do children from low income families deserve to become physicians and dentists? That path is virtually closed off if the new House GOP ed reform becomes law. These students will not be able to get private loans to cover the funding gap unless they’re at Harvard or Stanford

One way the new student loan bill could be dramatically fairer is a higher borrowing limit for grad school if you were a Pell grant recipient. Like 300k if you got Pell. That’s a pretty good proxy for if a student would be able to get private loans to cover funding gaps

But 300 billion is SAVE plan repeal which courts are about to do anyway. They’re essentially relying on an accounting gimmick to project savings. If the courts strike down SAVE first they won’t be able to claim this correct ?

I don’t understand how repeal of New IBR which was passed with 60 votes in senate can be overturned with 50 votes. If that’s the case, the “Super SAVE Plan” could become law the next time Dems have power. They could do 3 years til forgiveness 1 percent of income if they wanted

Not having any inflation adjustments in this new student loan bill would virtually guarantee it gets repealed at some point in the next few years.

The new RAP IDR plan is honestly extremely complicated. Lots of questions remain, such as what happens when someone hits 30 years or pays Standard 10 year worth of principal + interest. Do they pay a tax bomb on the remaining amount?

There's 2 changes that could make the student loan reform bill far more reasonable for moderate cost: 1. If you got a Pell grant in undergrad, you can borrow 300k instead of 150k for certain professional programs like dental, med, vet, etc. You could also just carve those

The cuts to Grad PLUS and Parent PLUS would represent tens of billions in lower revenues for higher ed. There would be huge layoffs as a result. Here’s 10 universities particularly at risk in Republican held swing districts studentloanplanner.com/plus-loan-repe…

What if instead of repealing PSLF credit during residency entirely they kept it in place but only if you go into primary care?

The House Committee on Education & Workforce should update their bill summary because this is a false statement. Their bill ends PAYE.

Promissory notes might be violated under a new bill or proposed in Congress. Here’s what you can do about it. Stay up to date by subscribing to the newsletter: studentloanplanner.com/student-loan-c…

Grateful for Kit. My biz would be way smaller without them. Also love how they’ve stayed private and true to their mission of helping creators big and small earn a living doing stuff we love to do. If you post on X a lot they’re a great choice for a email list provider

Morally Congress shouldn’t alter promissory notes. It’s a contract. But apparently legally they can due to the terms of the MPN and the HEA.