Earlier this year, Representative Virginia Foxx (R-NC) introduced the College Cost Reduction Act (CCRA), a bill to reform higher education grant and loan programs and to establish new accountability rules for colleges. A key part of the bill would replace the myriad income-driven repayment (IDR) plans for federal student loans, including the Biden…

The new student loan repayment plan formally proposed by the Biden administration would let borrowers make lower payments and have remaining loans forgiven sooner than under current plans. Under the proposed income-driven repayment (IDR) plan, most undergraduate borrowers with typical debt levels--and nearly 90 percent of those with certificates…

In August, the Biden administration announced a plan to forgive up to $10,000 in federal student loans for almost all borrowers, with up to an extra $10,000 for borrowers who had received Pell grants. The additional forgiveness for Pell borrowers intends to address the racial wealth gap, as Black and Hispanic students are more likely to receive…

Policymakers have expressed increased interest in program-level higher education accountability measures as a supplement to, or in place of, institution-level metrics. But it is unclear what these measures should look like. In this report, we assess the ways program-level data could be developed to facilitate federal accountability. Evidence shows…