IDEAS home Printed from https://ideas.repec.org/h/spr/sprchp/978-3-031-46375-4_4.html
   My bibliography  Save this book chapter

Recent Changes to Student Loan Policy and Future Recommendations

In: Bait and Switch

Author

Listed:
  • Robert H. Scott, III

    (Monmouth University)

  • Joseph N. Patten

    (Monmouth University)

  • Kenneth Mitchell

    (Monmouth University)

Abstract

In Biden v Nebraska (2023) the US Supreme Court struck down President Biden’s Executive Order to unilaterally cancel $442 billion of student debt as a presidential overreach of his constitutional powers. The debt cancellation plan would have eliminated student debt for 20 million borrowers and substantially reduced student debt for another 23 borrowers. In this chapter, we highlight how recent reforms to the Income-Driven Repayment (IDR) plan will cancel $500 billion of debt and how these reforms will fundamentally transform the student loan system. We also propose several new reforms to the student loan system that we believe will particularly help Black and first-generation student borrowers out of the student debt trap and narrow the racial wealth gap. Specifically, this chapter recommends the creation of childhood trust funds (i.e., baby bonds), banning for-profit colleges from receiving federal aid, bankruptcy reform, and requiring colleges to absorb some of the costs of student loans.

Suggested Citation

  • Robert H. Scott, III & Joseph N. Patten & Kenneth Mitchell, 2023. "Recent Changes to Student Loan Policy and Future Recommendations," Springer Books, in: Bait and Switch, chapter 0, pages 99-125, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-46375-4_4
    DOI: 10.1007/978-3-031-46375-4_4
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:sprchp:978-3-031-46375-4_4. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.