“Solutions that could better-support existing borrowers, as well as reforms to improve the system…”
Americans currently hold $1.5 trillion in outstanding federal student loan debt, with nearly one in five adults carrying a share of this burden. Less than half of new borrowers can put a dent in their principal balance within three years of entering repayment. Worse yet, some traditionally under-served populations carry disproportionately large debt burdens and are more likely to default. With reauthorization of the Higher Education Act on the horizon, now is the time to consider reforms. Sponsored by the Bipartisan Policy Center, the Aspen Institute Financial Security Program, and the Consumer Bankers Association. as we explore solutions that could better-support existing borrowers, as well as reforms to improve the system moving forward. Click the link to recent panel discussion at BPC!