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ARTICLE · 18 JANUARY 2018

Student Loans In 2018: Debt Relief Discussions Will Become De Rigueur

Davis+Gilbert LLP
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2018 may be the beginning of the end of an education finance system that has resulted in overburdened students and families struggling to pay back loans that were too high at their inception...

United StatesFinance and Banking
Joseph Cioffi
Joseph Cioffi
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2018 may be the beginning of the end of an education finance system that has resulted in overburdened students and families struggling to pay back loans that were too high at their inception relative to the reasonable income potential of the degree earned. Change won't come overnight, but potential solutions should be put in motion this year, mainly aimed at relieving the student loan debt burden.

Below are a few touchstones for change that would signal the beginning of the end of the current student debt cycle.

New Laws

Under the proposed Promoting Real Opportunity, Success and Prosperity through Education Reform Act (the PROSPER Act), Congress is poised to take unprecedented steps to alter the current market dynamics, from capping the amount that can be borrowed for tuition to making colleges responsible for a portion of federal student loans after borrowers default. Overall, the biggest winners could be for-profit and trade schools – a target of the

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