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Higher Education Associations Express Grave Concerns with PROSPER Act

The Association of American Universities (AAU), and the American Council on Education (ACE), joined more than three dozen other higher education associations in a letter to Speaker Ryan and Minority Leader Pelosi to express "grave reservations" about the version of H.R. 4508, PROSPER Act passed in December by the Education and the Workforce Committee.

The letter outlined how the PROSPER Act in its current form would undermine the ability of students to afford and attend college by increasing the cost of student loans for over 6 million borrowers, eliminating grants for 1.5 million students, and narrowing loan repayment options.

The legislation would also reduce the capacity of institutions to serve underrepresented students, harm graduate students by limiting the amount of aid available to them, and make students more vulnerable to bad actors and poor performing institutions.

"Because the bill is so problematic for students and families, particularly in the student financing provisions at the core of the Higher Education Act, we cannot in good conscience support it," the organizations said. "Indeed, if the bill is brought to the floor in its current form, we will have to oppose it."

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