Commonwealth Policy Center

A new bill in the U.S. House of Representatives aims to help relieve our nation’s student loan debt crisis, which is moving toward an accumulated $2 trillion. The College Cost Reduction Act would limit the amount of money undergraduate students can borrow to $50,000, set up clear repayment plans for students, and strictly regular any loan forgiveness plans by the government. One expert called this bill the largest “serious and comprehensive higher education reform package in decades.” The bill is timely because too many college graduates are burdened by overwhelming debt. Just as the federal government has made easy loans and massive debt to students possible, they’re now serious about helping to protect them from such massive debt in the first place.