S.1948 - Protecting Our Students by Terminating Graduate Rates that Add to Debt Act; POST GRAD Act (119th Congress)
Summary
The "Protecting Our Students by Terminating Graduate Rates that Add to Debt Act" (POST GRAD Act) aims to reinstate the Secretary of Education's authority to make Federal Direct Stafford Loans to graduate and professional students. This authority was temporarily terminated, and this bill seeks to reverse that termination. The bill amends Section 455(a)(3) of the Higher Education Act of 1965 to allow these loans to continue.
Expected Effects
If enacted, the POST GRAD Act would allow graduate and professional students to once again access Federal Direct Stafford Loans. This would likely increase the availability of federal loan options for students pursuing advanced degrees. The Act also stipulates that the changes made will not be subject to specific rulemaking requirements within the Higher Education Act.
Potential Benefits
- Increased access to federal student loans for graduate and professional students.
- Potential for more individuals to pursue higher education.
- May alleviate some financial burden for students.
- Could lead to a more educated workforce.
- Simplifies the loan process by avoiding additional rulemaking requirements.
Potential Disadvantages
- Potential increase in overall student debt.
- May encourage students to take on more debt than they can manage.
- Could lead to higher default rates on student loans.
- May not address the underlying issues of rising tuition costs.
- Potential burden on taxpayers if loan repayment rates are low.
Most Disadvantaged Areas:
Constitutional Alignment
The bill appears to align with the Constitution, particularly the General Welfare Clause, as it aims to promote education and opportunity. Article I, Section 8 grants Congress the power to spend for the general welfare of the United States. The bill does not appear to infringe upon any specific constitutional rights or limitations.
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).