House Republicans Release Plan to Overhaul Federal Student Loan System

A sweeping House bill introduced Thursday would cap how much students can borrow for higher education and put colleges and universities on the hook for unpaid loans. Representative Virginia Foxx, a North Carolina Republican and sponsor of the College Cost Reduction Act, said the bill is aimed at making college more affordable for students and families, with changes to the student loan system and new incentives for colleges to cap their costs.