Federal higher ed proposal saves taxpayers $185B by 2033: Analysis

(The Center Square) – Taxpayers could save $185 billion over the next decade through a federal college education proposal from a North Carolina congresswoman.

The analysis released this month is from the Congressional Budget Office and measures the impact of the College Cost Reduction Act authored by U.S. Rep. Virginia Foxx, R-N.C., and filed in January. The proposal notably reins in policies of President Joe Biden and his administration; strengthens and simplifies the student loan program; and reduces college costs for students and their families.

Foxx is chairwoman of the Committee on Education and the Workforce in the House of Representatives. She says the bill ensures clear, personalized information for return on investment to students and families; holds institutions financially responsible for overpriced degrees that leave students and taxpayers with unaffordable debt; and funds colleges based on student outcomes rather than “excessive regulations that further increase costs to families.”

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