From Huffpost
The bill changes student loans in three major ways: removing most of the existing income-driven repayment plans, making repayment more difficult for lower-income graduates; creating loan limits for graduate students and parent borrowers, which will make some higher-cost programs like medical school less accessible for people who can’t pay for them out of pocket; and denying federal funds to cover certain programs if their graduates don’t meet a certain income threshold.
In short, it will become harder to get loans to cover degrees that don’t quickly lead to higher-income jobs, like associate degrees, and fields that do lead to lucrative employment but have a high cost barrier to certification, like medicine. And it will become harder for everyone to pay loans off.
“It’s going to push folks out of college altogether because they won’t have access to a co-signer and they just won’t be able to pay,” Bañez said.