Bill > S1947

This bill: Provides funding for grants to eliminate tuition and required fees at community colleges, public four-year institutions, tribal colleges and universities, as well as grants to significantly reduce tuition and fees at private historically Black colleges and universities and minority-serving institutions. It also requires the Department of Education to forgive outstanding federal student loans, including FFEL, Direct, Perkins, and parent loans, as well as to purchase and forgive outstanding private student loans. The bill also increases funding for TRIO and GEAR UP programs that support low-income and first-generation college students, and reforms the federal work-study program to better serve these students. Additionally, the bill restores certain interest rate provisions for new federal student loans.