H.R. 6951, College Cost Reduction Act

May 10, 2024

Cost Estimate

As ordered reported by the House Committee on Education and the Workforce on January 31, 2024

Summary

H.R. 6951 would amend the Higher Education Act of 1965, making changes to federal student aid programs. Specifically, the bill would modify the William D. Ford Federal Direct Loan Program by changing repayment terms, loan limits, and requirements for institutional eligibility. The bill also would limit the administrative authority of the Department of Education, repeal certain regulations, create a new institutional grant program funded through payments from postsecondary institutions, and increase data collection and reporting requirements for postsecondary institutions that receive federal aid.

Data and Supplemental Information

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