On April 28, 2025, ahead of the House Education and Workforce Committee’s mark up, Republican leaders on the committee released their draft budget reconciliation bill. In response, the Student Borrower Protection Center (SBPC) sent a letter to the Committee Chairman Tim Walberg and Ranking Member Bobby Scott warning of the dire economic effects posed by this legislation.
SBPC’s letter to Committee Chairman Walberg and Ranking Member Scott details that:
A typical current student loan borrower with some college but no degree would be forced to repay an additional $1,761 per year in student loan payments should Congress enact this proposal, when compared to the SAVE plan.
A typical current student loan borrower with a college degree will be forced to pay an additional $2,928 per year in student loan payments should Congress enact this proposal, when compared to the Saving on a Valuable Education (SAVE) plan.
Read the Letter: Preliminary Economic Analysis of Proposal on Student Loan Repayment
Read the Press Release: House Education and Workforce Republicans Unveil Legislative Plans to Deliver Massive Tax Cuts to Billionaires on the Backs of Students and Families with Student Loan Debt