H.R.3711 - Protecting Our Students by Terminating Graduate Rates that Add to Debt Act; POST GRAD Act (119th Congress)
Summary
H.R.3711, also known as the POST GRAD Act, aims to amend the Higher Education Act of 1965. The bill seeks to reinstate the Secretary of Education's authority to make Federal Direct Stafford Loans to graduate and professional students, which was temporarily terminated. The bill specifies that the termination applied to the period ending on or before June 30, 2025.
Expected Effects
If enacted, the bill would allow graduate and professional students to once again access Federal Direct Stafford Loans. This could increase access to higher education for those who rely on these loans to finance their studies. The bill also stipulates that the amendments made would not be subject to certain rulemaking requirements under the Higher Education Act of 1965.
Potential Benefits
- Increased access to graduate and professional education for students with financial needs.
- Potential reduction in reliance on private loans with potentially higher interest rates.
- Simplification of the loan process by removing certain rulemaking requirements.
- May encourage more individuals to pursue advanced degrees, leading to a more skilled workforce.
- Could stimulate the economy through increased spending on education and related expenses.
Potential Disadvantages
- Potential increase in the overall amount of student loan debt.
- Possible risk of students taking on more debt than they can realistically repay.
- May not address the underlying issues of rising tuition costs.
- Could lead to a decrease in the perceived value of higher education if more individuals pursue degrees without careful consideration of career prospects.
- Potential burden on taxpayers if loan repayment rates are lower than anticipated.
Most Disadvantaged Areas:
Constitutional Alignment
The bill appears to align with the Constitution's general welfare clause (Preamble). Congress has the power to promote education and support its citizens' pursuit of knowledge. Article I, Section 8, Clause 1 grants Congress the power to lay and collect taxes, duties, imposts, and excises, to pay the debts and provide for the common defense and general welfare of the United States.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).