The Trump administration on Monday proposed new limits on federal student loans taken out by parents and graduate students as part of a broader proposal to curb the cost of college.
White House officials included the plan in a list of suggested changes to the Higher Education Act, a sweeping federal law that governs student lending. The legislation is getting its first overhaul from Congress in more than a decade.
The White House's proposed solution is to cap federal loan programs available to students' parents and to graduate students. The plan doesn't propose specific limits, but officials suggested it could vary based on academic program. "In fact, this proposal would end up hurting students by reducing the amount of federal aid for students and taking billions out of the pockets of borrowers," she said.
White House officials say they also want to simplify the loan repayment process, a goal shared with Sen. Lamar Alexander, R-Tenn., who chairs the Senate education committee and is leading the push to update the Higher Education Act.
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