88, to block President Joe Biden’s new income-driven student loan repayment program, dubbed the “SAVE” plan. HOUSE TO VOTE ON REPEAL OF BIDEN’S LOAN REPAYMENT PROGRAM: The House is also expected to take up this week Republicans’ effort, H.J. Chip Roy (R-Texas), a member of the Rules Committee, has an amendment that would terminate federal funding to colleges and universities that report any foreign gifts. Josh Gottheimer (D-N.J.) has an amendment that would prohibit colleges and universities that receive federal student aid from marketing their programs on TikTok. Andy Ogles (R-Tenn.) that would require colleges and universities to disclose all foreign gifts, regardless of the amount. Among the amendments that have been filed: The House Rules Committee meets today to prepare the legislation for floor consideration later in the week. Wealthy universities with endowments above $6 billion would also have to report new details about their investments to the Education Department. 5933, would require colleges and universities to report gifts of $50,000 or more (lowering the current threshold of $250,000), and it would prohibit colleges from doing business with some foreign entities, including China or Russia, without first getting a waiver from the Education Department. The bill won three Democratic votes when it cleared the House education committee last month on a 27-11 vote. The Republican-led legislation would be the first major overhaul of a Cold War-era requirement for colleges and universities to disclose their foreign sources of funding. and impose new restrictions on their foreign dealings. HOUSE DEBATES CHANGES TO FOREIGN GIFT REPORTING: House lawmakers this week are set to take up legislation that would force colleges to disclose more details about their sources of funding from outside the U.S. House Education Committee Chair Virginia Foxx (R-N.C.), as well as some Democratic lawmakers, have said that some higher education leaders haven’t done enough to condemn or stop upticks in antisemitism on their campuses in the wake of the Israel-Hamas war. THIS WEEK - LAWMAKERS TO GRILL HARVARD, PENN & MIT PRESIDENTS: The presidents of Harvard University, the University of Pennsylvania and the Massachusetts Institute of Technology are set to testify about campus antisemitism before the House education committee on Tuesday. Please send tips and feedback to the POLITICO education team: Michael Stratford ( ), Mackenzie Wilkes ( ), Juan Perez Jr. The Education Department will then formally publish a proposal for public comment. Negotiations over the plan are set to come to an end after two daylong sessions next Monday and Tuesday. Happening this week: The Biden administration is expected, as early as today, to unveil its latest draft regulatory proposal for the rulemaking panel to consider when it meets next week. The Biden administration has so far identified several populations of borrowers for debt relief, including borrowers who are underwater on their loans because of ballooning interest and those who’ve been paying for more than 25 years.īut the administration has said it wants to craft additional categories of relief, especially for borrowers who have a “hardship.” Some members of the rulemaking panel have been pushing for additional relief for borrowers who are in default. Targeted relief: The new data on defaulted borrowers is meant to inform the debate happening at the Education Department’s negotiated rulemaking committee over how to structure a new debt relief program. In the meantime, the Biden administration has also separately offered borrowers who were in default before the pandemic with the opportunity to expunge their default through a “fresh start” program over the coming year. Even though payments have now resumed, the Biden administration’s temporary yearlong safety net program means that federal student loan borrowers won’t begin defaulting on their loans until October 2025, at the earliest.Īnd Biden Education Department officials have signaled that they eventually want to rewrite the rules of how the agency collects defaulted debt, including how it garnishes wages, tax refunds and Social Security benefits from defaulted borrowers. The bigger picture: The Covid payment pause has essentially stopped new defaults on most federal student loans since March 2020.
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