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Members split over repayment reforms: GOP overhaul vs. Biden’s SAVE plan and PSLF protections
Summary
Republicans told the committee their repayment assistance plan would prevent ballooning balances and target relief; Democrats pushed to keep the SAVE plan, preserve the Public Service Loan Forgiveness program and protect loan forgiveness for residents and educators.
Lede: Committee Republicans said their repayment reforms would end the ‘‘ballooning balances’’ that arose under prior administration rulemaking and would offer targeted relief; Democrats sought to preserve the Biden administration’s SAVE repayment plan and protect Public Service Loan Forgiveness (PSLF) and related teacher and resident exceptions.
Nut graf: A major fault line in the markup was repayment policy. Democrats argued…
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