Latest news with #LaborandPensionscommittee
CNBC
9 hours ago
- Business
- CNBC
Senate's budget proposal offers student loan borrowers fewer repayment options, loan limits for grad school
The U.S. Senate has released details about its version of the budget reconciliation package known as President Donald Trump's "One Big Beautiful Bill Act." The House passed its version of the bill on May 22, which included a number of proposals to reform the current federal student loan landscape, including the elimination of existing repayment plans and new limits on federal borrowing. The Senate's version — released by the Health, Education, Labor and Pensions committee on June 10 — keeps most of those proposals in place, but takes out other regulations, like a loan limit on undergraduate borrowers. Critics say the bill removes important protections for vulnerable student loan borrowers, such as affordable repayment plans and recourse when students are harmed by their institution. "While the Senate has pared back or rejected many of the most harmful changes proposed by the House, the bill still harms the lowest-income loan borrowers and students to pay for tax cuts," Sameer Gadkaree, president of The Institute for College Access & Success, said in a statement on June 11. Proponents, however, say the bill addresses some of the major contributing factors to the student loan crisis and puts the onus on borrowers to repay their debts, rather than taxpayers. "While [former President Joe] Biden and Democrats unfairly attempted to shift student debt onto taxpayers that chose not to go to college, Republicans are taking on the root causes of the student debt crisis to lower the cost of tuition and improve Americans' access to opportunities that set them up for success," Sen. Bill Cassidy (R-La.), who chairs the HELP committee, said in a statement on June 10. Republicans hope to move the bill forward by July 4, but some provisions, namely cuts to Medicaid, are raising concerns about whether it will pass the Senate as is. But if the Senate's provisions remain in place, here's what it would mean for student loan borrowers. Both the House and Senate versions of the bill aim to streamline the repayment options for federal student loan borrowers. Borrowers currently have at least three different income-driven repayment plans available, as well as the standard repayment plan, to pay back their loans on timelines ranging from 10 to 25 years. If passed as proposed, borrowers whose loans are disbursed on or after July 1, 2026 will only have two options: a standard fixed-payment plan and a new income-driven repayment plan lawmakers have coined the Repayment Assistance Plan. Existing borrowers will be able to stay on older plans or switch into one of the new repayment plans. The new standard repayment plan will have borrowers paying back their loans for 10 to 25 years, depending on how much they borrow. Currently, the standard repayment plan calculates monthly payments to have the debt repaid in 10 years. RAP, the new income-driven repayment plan, will calculate monthly payments as between 1% and 10% of a borrower's discretionary income, down from the current offerings that set payments at 10%, 15% or 20% of a borrower's income, depending on the plan and when the loans were disbursed. On RAP, borrowers would be eligible to have their remaining balances forgiven after 30 years, up from the current 20 or 25 years. The House's proposal includes a stipulation that borrowers who enroll in RAP will not be able to switch out of the plan later, but the Senate's did not include that rule. The Senate's version of the bill maintains the House's goal of limiting the amount of loans students and their families can take out, but with different thresholds. Under the Senate's proposal, graduate borrowers would have a lifetime borrowing limit of $100,000, and up to $200,000 for students in professional programs, like medical school. Parents would have a borrowing limit of $65,000 per undergraduate student. Undergraduate borrowers would maintain the current aggregate limit of $31,000 for dependent students and $57,500 for independent borrowers. The House's version would impose a $50,000 lifetime borrowing limit for undergraduate students and eliminate subsidized loans that don't accrue interest while students are in school. That version also caps lifetime graduate borrowing at $100,000 or $150,000 for professional programs, and parent PLUS loans at $50,000 per parent. Currently, borrowers have a $138,500 lifetime limit for graduate loans, including any amount borrowed for undergraduate studies. Parents can borrow up to the cost of their student's attendance after any federal aid. Both bills eliminate grad PLUS loans, which have a higher interest rate than unsubsidized loans, but allow grad students to borrow up to their entire cost of attendance minus any federal aid. Both versions of the bill roll back regulations put in place to help borrowers who didn't get the full benefit of the education they went into debt for. The House and Senate proposals both eliminate borrower defense to repayment and closed school discharge rules, which allow borrowers to have their federal debt discharged if they prove they were defrauded by their academic institution or if their school wound up closing. The House version of the bill went a step further, eliminating the 90/10 and gainful employment rules, which aim to hold schools accountable for ensuring borrowers are getting the education necessary to land well-paying jobs. Both versions of the bill also eliminate deferment options that currently allow qualifying borrowers to pause payments when dealing with the economic hardship and unemployment.
Yahoo
31-01-2025
- Health
- Yahoo
Sens. Bernie Sanders and Peter Welch grills RFK Jr. on vaccines in confirmation hearings
Democratic Vermont Senator Bernie Sanders pressed President Donald Trump's Health Secretary nominee Robert F. Kennedy Jr. on his vaccine views Thursday, calling his response 'troubling.' One of Trump's most divisive Cabinet picks, Kennedy has vowed to 'Make America Healthy Again.' However, critics have pointed to his history of opposition to vaccines and belief in conspiracy theories like that Wi-Fi causes cancer. Sanders joined other members of the Senate Health, Education, Labor and Pensions committee who grilled Robert F. Kennedy Jr. over his stance on vaccines, healthcare, and general qualifications to be the head of the U.S. Department of Health and Human Services. Thursday's hearing was the second in Kennedy's confirmation hearings. On Wednesday, Sanders and fellow Democratic Vermont Sen. Peter Welch questioned Kennedy on his priorities and anti-vaccine baby onesies. At the hearing Thursday, both Republican and Democratic senators questioned Kennedy on his views on vaccines. 'There have been, as I understand it, dozens of studies done all over the world that make it very clear that vaccines do not cause autism. Now you just said, if I heard correctly, 'Well, if the evidence is there' — The evidence is there,' Sanders said. 'Vaccines do not cause autism. Do you agree with that?' Kennedy responded by repeating what he had told Chair Sen. Bill Cassidy, R-LA: that if the data is brought to him, he will apologize for his previous statements that 'misled people otherwise.' In response to another question from Sanders later, Kennedy said he didn't know whether the COVID vaccine was successful in saving lives. Sanders called the responses 'problematic.' 'The studies are there," Sanders said. "Your job was to have looked at those studies as an applicant for this job." Sanders also brought up the other issues he wants addressed, like universal healthcare and guaranteed paid family and medical lead. "I'm not quite sure how we can move to making America healthy again, unless we have the guts to take on the insurance companies and drug companies and guarantee health care for all people," Sanders said. Sanders' questioning followed the Senate Finance committee hearing Wednesday, when he had criticized Kennedy for baby onesies sold from the group he founded, the Children's Health Defense, that said 'No Vax, No Problem' and 'unvaxxed unafraid.' Welch said Wednesday that Kennedy's confirmation was not just 'a debate about vaccines,' but about the 'the qualifications, experience, and priorities as to the person that will head Health and Human Services.' He said he was concerned over Kennedy's lack of experience managing a large organization and lack of experience in government in general. He also took issue with Kennedy's priorities. 'I've seen nothing coming out of the Trump Administration–and I've seen nothing coming out of your advocacy–that is going after what is a rampant abuse by the insurance companies and overcharging people and not doing the job,' said Welch. Kennedy said he has never defended insurance companies and pledged to uphold the Constitution. With widespread opposition from Democrats and potential objections from some Republicans, Kennedy is one of Trump's weaker Cabinet nominees. However, it is unclear yet how all the senators will vote. 51 senators would be needed to reject Kennedy's position. (This story was updated to correct the spelling of a name) This article originally appeared on Burlington Free Press: Bernie Sanders, Peter Welch grill RFK Jr on vaccines and MAHA rhetoric
USA Today
31-01-2025
- Health
- USA Today
NH Sen. Maggie Hassan blasts RFK Jr.'s false vaccine views in emotional speech: Watch
NH Sen. Maggie Hassan blasts RFK Jr.'s false vaccine views in emotional speech: Watch Show Caption Hide Caption Doctors, scientists object to RFK Jr. nomination Doctors and scientists gathered to object Robert Kennedy Jr.'s confirmation as health secretary, citing his anti-vaccine stance. U.S. Sen. Maggie Hassan, D-New Hampshire, challenged Robert F. Kennedy Jr. on his false vaccine views in an emotional speech Thursday, bringing up her son's struggle with cerebral palsy. Kennedy's bid to become President Donald Trump's health secretary has been controversial, in part because he has a history of opposition to vaccines. On Thursday, he faced members of the Senate Health, Education, Labor and Pensions committee in his second confirmation hearing to determine whether he is fit to be the head of the U.S. Department of Health and Human Services. What did Hassan say to RFK Jr. about her son? Hassan's questioning of Kennedy got personal when she brought up her experience as a mother of a child with severe cerebral palsy. 'A day does not go by when I don't think about what did I do when I was pregnant with him that might have caused the hydrocephalus that has so impacted his life,' she said, fighting tears. She criticized his belief in a link between autism and vaccines. 'That first autism study rocked my world. And like every mother, I worried about whether, in fact, the vaccine had done something to my son,' she said. 'Over time, the scientific community studied and studied and studied and found that it was wrong, and the journal retracted the study, because sometimes science is wrong. We make progress, we build on the work, and we become more successful. And when you continue to sow doubt about settled science, it makes it impossible for us to move forward.' Often a more stoic senator, Hassan's emotional testimony Thursday made waves on social media. What is cerebral palsy and hydrocephalus? Cerebral palsy is a group of neurological conditions that affect body movement and muscle coordination. It is caused by damage that occurs to the developing brain, usually before birth. Hassan said that her son's cerebral palsy was caused by hydrocephalus, which is a buildup of fluid in the brain that can cause brain injuries that lead to conditions such as cerebral palsy. People with severe cerebral palsy sometimes need special equipment or lifelong care, according to the National Institute of Neurological Disorders and Stroke. Will RFK Jr. be confirmed as Health Secretary? Thursday's hearing was the second of two confirmation hearings for Kennedy. On Wednesday, he faced questioning from the Senate Finance Committee. With widespread opposition from Democrats and potential objections from some Republicans, Kennedy is one of Trump's Cabinet nominees expected to face the most difficulty being confirmed. More: Sens. Bernie Sanders and Peter Welch grills RFK Jr. on vaccines in confirmation hearings However, it is unclear yet how all the senators will vote. Fifty-one senators would be needed to reject Kennedy's position. It's also yet uncertain when the senators will hold the vote.
