This bill would reverse several student loan and college affordability measures from recent federal legislation. The bill repeals provisions that modified loan limits, loan repayment terms, deferment and forbearance options, the Public Service Loan Forgiveness program, and Pell Grant eligibility rules. It also repeals delays on rules governing borrower defense to repayment claims and closed school loan discharges. Additionally, the bill modifies the federal excise tax on private college and university endowment income, reducing the tax rate to 1.4 percent starting in 2026. The bill was introduced by Senator Blumenthal and five other Democratic senators and is intended to increase college access and affordability by restoring previous student aid policies.
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