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How the Gainful Employment Rule Will Affect Student Loan Repayment

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Title: How the Gainful Employment Rule Will Affect Student Loan Repayment
Language: English
Authors: Jason Delisle, Jason Cohn, Urban Institute, Center on Education Data and Policy
Source: Urban Institute. 2023.
Availability: Urban Institute. 2100 M Street NW, Washington, DC 20037. Tel: 202-261-5687; Fax: 202-467-5775; Web site: http://www.urban.org
Peer Reviewed: N
Page Count: 8
Publication Date: 2023
Sponsoring Agency: Stand Together Trust
Bill and Melinda Gates Foundation
Intended Audience: Policymakers
Document Type: Reports - Descriptive
Education Level: Higher Education
Postsecondary Education
Descriptors: Educational Policy, Standards, Higher Education, Loan Repayment, Student Loan Programs, Federal Aid, College Graduates, Salary Wage Differentials, Salaries, Employment, Debt (Financial), Employment Level, Quality of Working Life, Work Environment
Abstract: The Biden administration is pursuing two higher education policies through a series of rulemaking processes that aim to make higher education more affordable and less risky for students. One policy focuses on the system's back end by helping students repay their loans, and the other focuses on the front end by cutting off access to federal aid for educational programs where graduate earnings are consistently low. The administration's new income-driven repayment (IDR) plan for student loans is the back-end policy, and the gainful employment (GE) rule is the front-end policy. In this brief, the authors estimate how much the Biden administration's GE and IDR policies might complement one another by estimating repayment rates for loans repaid in IDR before and after the GE rule goes into effect. This approach gauges how well the two policies align and can show how much the GE rule screens out programs where typical borrowers' debt and earnings profiles are likely to lead to loan forgiveness in IDR. The approach also can reveal how much debt will be left unpaid under the Biden IDR plan in programs that are currently exempt from GE. That information can help policymakers consider whether additional quality assurance policies may be necessary and whether loan forgiveness benefits in the Biden IDR plan should be targeted differently.
Abstractor: ERIC
Entry Date: 2024
Accession Number: ED638072
Database: ERIC
FullText Text:
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  Data: How the Gainful Employment Rule Will Affect Student Loan Repayment
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  Data: <searchLink fieldCode="AR" term="%22Jason+Delisle%22">Jason Delisle</searchLink><br /><searchLink fieldCode="AR" term="%22Jason+Cohn%22">Jason Cohn</searchLink><br /><searchLink fieldCode="AR" term="%22Urban+Institute%2C+Center+on+Education+Data+and+Policy%22">Urban Institute, Center on Education Data and Policy</searchLink>
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  Data: Urban Institute. 2100 M Street NW, Washington, DC 20037. Tel: 202-261-5687; Fax: 202-467-5775; Web site: http://www.urban.org
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  Data: 8
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  Data: 2023
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  Data: Stand Together Trust<br />Bill and Melinda Gates Foundation
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  Data: <searchLink fieldCode="EL" term="%22Higher+Education%22">Higher Education</searchLink><br /><searchLink fieldCode="EL" term="%22Postsecondary+Education%22">Postsecondary Education</searchLink>
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– Name: Abstract
  Label: Abstract
  Group: Ab
  Data: The Biden administration is pursuing two higher education policies through a series of rulemaking processes that aim to make higher education more affordable and less risky for students. One policy focuses on the system's back end by helping students repay their loans, and the other focuses on the front end by cutting off access to federal aid for educational programs where graduate earnings are consistently low. The administration's new income-driven repayment (IDR) plan for student loans is the back-end policy, and the gainful employment (GE) rule is the front-end policy. In this brief, the authors estimate how much the Biden administration's GE and IDR policies might complement one another by estimating repayment rates for loans repaid in IDR before and after the GE rule goes into effect. This approach gauges how well the two policies align and can show how much the GE rule screens out programs where typical borrowers' debt and earnings profiles are likely to lead to loan forgiveness in IDR. The approach also can reveal how much debt will be left unpaid under the Biden IDR plan in programs that are currently exempt from GE. That information can help policymakers consider whether additional quality assurance policies may be necessary and whether loan forgiveness benefits in the Biden IDR plan should be targeted differently.
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  Data: 2024
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  Data: ED638072
PLink https://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=eric&AN=ED638072
RecordInfo BibRecord:
  BibEntity:
    Languages:
      – Text: English
    PhysicalDescription:
      Pagination:
        PageCount: 8
    Subjects:
      – SubjectFull: Educational Policy
        Type: general
      – SubjectFull: Standards
        Type: general
      – SubjectFull: Higher Education
        Type: general
      – SubjectFull: Loan Repayment
        Type: general
      – SubjectFull: Student Loan Programs
        Type: general
      – SubjectFull: Federal Aid
        Type: general
      – SubjectFull: College Graduates
        Type: general
      – SubjectFull: Salary Wage Differentials
        Type: general
      – SubjectFull: Salaries
        Type: general
      – SubjectFull: Employment
        Type: general
      – SubjectFull: Debt (Financial)
        Type: general
      – SubjectFull: Employment Level
        Type: general
      – SubjectFull: Quality of Working Life
        Type: general
      – SubjectFull: Work Environment
        Type: general
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      – TitleFull: How the Gainful Employment Rule Will Affect Student Loan Repayment
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            NameFull: Jason Delisle
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            NameFull: Jason Cohn
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              Y: 2023
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