Refinancing ProgramsAddressing the ongoing increase in student debt by steering students away from debt-financed degrees will be an important component of any student loan reform policy. But lawmakers will still have to address the $1.5 trillion in student loan debt that already exists. Caps On Interest AccrualReducing interest rates would be one way to lower the cost of student loan repayment. Student Loan Forgiveness and CancellationSome consumer advocates argue that student loan interest and repayment reforms wouldn’t go far enough to address the student debt crisis. Watch for reforms that rein in student loan servicers and debt collectors via a national Student Loan Bill of Rights – modeled on bills currently pending in states like New York and Massachusetts.

Source: Forbes March 11, 2019 15:11 UTC