The American Secretary of Education Linda McMahon smiled during the signature event for a decree to close the Ministry of Education next to the American president Donald Trump, in the east house of the White House in Washington, DC, United States, on March 20, 2025.
Carlos Barria | Reuters
The republicans of the house have a plan to radically change how millions of Americans reimburse their student debt.
Under the new proposal of the GOP, known as Success of students and taxpayers' savings planThere would be only two reimbursement options for those who have Federal student loans. Currently, borrowers have around 12 ways to repay their student debt, according to higher education expert Mark Kantrowitz.
If the GOP plan is promulgated, borrowers could reimburse their debt via a plan with fixed payments over 10 to 25 years old, or via a income -focused reimbursement plan, called “Refund assistance plan. “”
As part of the rap plan, the monthly invoices for borrowers would be set as a share of their income, said Jason Delisle, a member of the non -resident senior at the urban institute. The percentage of income that borrowers should pay increases with their profits, from 1% and reach 10%.
House Republicans Unveiled their program To revise the student loan and financial assistance system at the end of April, with the aim of praising the savings for the expected tax reductions of President Donald Trump.
Here is what monthly invoices for borrowers of student loans could be if the proposal becomes the law.
