White House proposes caps on student loan borrowing

Alex Wong / Getty Images fileGet breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings.The Trump administration is proposing new limits on student borrowing as part of a broader plan to curb the cost of college.

White House officials announced the plan Monday amid a list of education priorities as Congress sets out to overhaul the Higher Education Act.The White House also wants to combine five loan repayment options into one plan that would cap monthly payments at 12.5 percent of a borrower's discretionary income.

Trump's oldest daughter and senior adviser, Ivanka Trump, said the plan aims to"modernize our higher education system to make it more affordable, flexible and outcomes-oriented." In a statement on Monday, White House press secretary Sarah Sanders called on lawmakers to get behind the proposals, saying they"would provide more Americans access to affordable and quality education, improve institutional accountability, and help students and families make informed decisions regarding their educational options."

"Remarkably, student loan debt exceeds what Americans owe in credit card debt, auto loans, or home equity loans," the statement said."Members of Congress who are committed to ensuring Americans thrive in today’s strong, modern, and growing economy should support and pass these reforms."

So... people with more money will be more able to attend more expensive schools. Just what we need.

Why don’t we put caps on tuitions then maybe people wouldn’t need so many loans.

There must be some really bad news for Trump coming imminently. First gas tax proposal to fund massive infrastructure projects, now this student loan proposal. I think they are both BS and meant to be distractions.

So a high risk mortgage-type loan? OK. Sounds legit.

Good job , my constant prayer in jesus is bringing White House in to common sense

Never any caps on the Military (jobs program) though ever eh?!

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White House proposes caps on student loan borrowingThe Trump administration is proposing new limits on student borrowing as part of a broader plan to curb the cost of college. The plan says Congress should put a cap on federal student loans to prevent borrowers from taking on unmanageable debt. Problem - Congress- caring enough to their jobs. That's one way to keep colleges available to only the rich.
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