the PROSPER act (persuasive) (1)
I was introduced to the PROSPER act at a program this summer, even if it was introduced by Virginia Foxx in December of 2017. It plans to update the Higher Education Act of 1965. The main goal of the legislation is to manage the student debt crisis and help prepare students for their careers. However, it has the consequences of making student financial aid harder to obtain for lower and middle class students, and there is less aid available overall.
The following are specific parts in the PROSPER act:
- Streamline the FAFSA.
Pro: This will make the paperwork simpler, which make it easier for students to apply for financial aid.
Con: This streamlining will limit certain students from aid, as there will be more cutoffs and requirements to receive it.
2. Limit loans and grants to the ONE student loan and the existing pell grant.
Pro: This essentially has the same goal as before, of making the process of receiving aid for college simpler and easier, but it will also reduce unnecessary government funding for the several loans that exist.
Con: Again, this simplifying of the process will leave students unable to receive aid, which will limit them from receiving a secondary education.
3. Institutes a maximum on student debt.
Pro: This will alleviate some students from future debt, as they will not take on more than they can manage.
Con: This act also now allows debt to gain interest will the student is still in school, which will lead to more debt. Additionally, maxing student debt could limit students from attending high cost schools. While this tuition should be lowered, and more aid should be given to students, they should not be barred from receiving the education they want if they chose to make that financial option.
4. Eliminates the Public Service Forgiveness Program.
Pro: Ending this program will reduce government spending, alleviating pressures on everyday people.
Con: This program allows loans to be reduced if a student later works for the government or a nonprofit. If a student was counting on this lowering of debt, then they may not be able to pay for the education they want to receive. Eliminating this program could also lead to fewer workers in these sectors, which most likely will have detrimental effects.
5. Institutes a $300 pell grant for an increased academic workload.
Pro: This new grant will reward students for taking more classes and pushing themselves. It will immediately reward the student with a grant, but also may push them to graduate early, which will lead to a decrease in the cost o tuition.
Con: $300 is not enough compensation for the increased amount of stress and one would receive for added another class to one’s workload. This program does not cover if tuition is charged by class. It also could lead to lower performance in all classes as a result of the increased pressure.
Ultimately, the PROSPER act should not be passed because it does not adequately solve the problem with student debt, and it would limit lower and middle class students’ access to financial aid. All should prosper, not just the ones who are allowed to through this plan.
