Panel Proposes Major Overhaul of College-Aid System
Simplicity, Cost Savings Seen as Benefits of Plan
A high-profile national panel of experts convened by the New York City-based
College Board
last week issued a sweeping set of
recommendations
Under one of the panel’s proposals, the repayment of student loans would be based on post-college financial circumstances, and payment amounts would increase over time on the presumption that graduates’ incomes would also rise.
The federal application form for student aid would also be eliminated, in favor of information provided directly by the Internal Revenue Service; federal Pell Grant maximums would be linked to the Consumer Price Index; and federal Stafford loan amounts would be linked to the inflation-sensitive federal poverty level, if the...
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