![]() ![]() Rather than double down on failed policies, like President Biden’s reckless and unfair student loan amnesty proposals that would only make the problem worse, Congress should reform the Higher Education Act to create a new incentive structure that puts students first. This has left millions of Americans saddled with more debt than the earning potential their degree provides. Federal education subsidies incentivize colleges and universities to repeatedly increase tuition without worrying about the return on investment they provide to students. ![]() ![]() Of the bill, Ryan Walker, Acting Executive Director of Heritage Action, said, “ While the quality of higher education in the United States has diminished, the cost of going to college has skyrocketed. That is why I'm proud to work with my good friend Mike Lee in introducing this critical first step toward that goal. It's time to start getting the feds out of the college business, and put states and students back in charge. It's time for schools to have skin in the game for how much debt they encourage young Americans to rack up. The more involved the federal bureaucracy has become with education, the worse and more expensive things have gotten.Įnough. Chip Roy said, “ Higher "education" in America has largely become a crony government-supported credentialing racket more interested in political indoctrination than pursuing truth or preparing Americans for the workforce. It would transform our educational landscape and allow students to tailor their unique learning journey and gain the skills needed to excel in today's dynamic economy. The HERO Act aims to alleviate the ever-increasing financial burden required of students pursuing their educational goals by capping loans that exacerbate costs. Lee said, “ Too often, our bright young minds needlessly face the unfair choice of either drowning in debt or sacrificing their dreams of higher education. This transparency provides students with the necessary information to make informed decisions about which institutions to attend. This flexibility allows states to determine clock hour and minimum program length requirements, making short-term workforce development programs and nontraditional educational providers eligible for federal student aid.Īdditionally, the HERO Act mandates higher education institutions participating in federal student loan programs to publish relevant outcome information in an easily accessible format. Moreover, the bill empowers states to establish alternative accreditation systems that can accredit any postsecondary institution offering programs applicable to degrees, credentials, or professional certifications. ![]() Under this requirement, universities will be rewarded for each Pell Grant graduate but will also be obliged to repay a percentage of the total loans issued, with consideration for loan default rates and the average national unemployment rate. The HERO Act aims to simplify federal student loans by offering a single option and introduces a new financial "skin-in-the-game" requirement for universities. Chip Roy (R-TX) sponsored the HERO Act in the House of Representatives. Mike Lee (R-UT) introduced the Higher Education Reform and Opportunity (HERO) Act, a bill that brings transparency, accountability, and competition to higher education. ![]()
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