S 2629
Higher Education Reform and Opportunity Act
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Bill overview
The Higher Education Reform and Opportunity Act significantly alters federal student loan programs and increases accountability for colleges and universities. It consolidates federal student loans into a single program, eliminates loan forgiveness options, and establishes a stricter system for tracking student loan defaults. The bill also aims to improve transparency by requiring institutions to publish detailed data on student success, financial aid, and loan repayment rates. Furthermore, it expands the definition of eligible institutions for federal funding to include those accredited through alternative state accreditation systems, and introduces a new system for determining interest rates on federal student loans.
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