TICAS Offers Clever Solutions to Make College More Accessible
There are lots of different kinds of student loans. Repayment options and forgiveness provisions are confusing for even the most informed.
This past week, our friends at the Institute for College Access & Success, a nonprofit organization that works to make higher education more available and more affordable, released a report with recommendations including:
- reforms to simplify the federal aid application process,
- ways to streamline federal loan repayment options,
- improvements to student loan counseling, and
- methods to help borrowers in financial distress.
The white paper, “Aligning the Means and the Ends: How to Improve Federal Student Aid and Increase College Access and Success,” recommends offering one income-based repayment plan rather than the three different plans current in place. The report also recommends allowing borrowers to make just one payment that covers all of their federal loans. If successful, the reforms would go a long way to making the process easier for borrowers.
Now, how will we get Congress moving? Anyone? Anyone? Bueller?
To read the full report go here.
