+ LR-Icons —
×

You are leaving laurelroad.com

By clicking Continue, you will be taken to a third-party website. Laurel Road, a Brand of KeyBank N.A., is not responsible for the content, links, privacy policy, or security policy of third-party websites.

Continue Go Back
×

Thanks for your interest in joining us!

Laurel Road’s innovative engineering culture is enhanced by the scale and resources that come with being part of KeyBank N.A., Member FDIC. To see the full job details and apply for this role, you’ll be redirected to our KeyBank recruiting site.

Apply Now
  • Student Loan Help
    • Student Loan Forgiveness Consultation
      Examine your forgiveness and repayment options with our student loan specialists.
    • Public Service Loan Forgiveness (PSLF)
      Learn how to qualify and stay on track for public service loan forgiveness.
    • Income-Driven Repayment (IDR)
      Understand your income-based repayment and forgiveness options.
    • Student Loan Refinancing
      Explore simple refinancing options that could help you save on student loans.
  • Lending
    • Student Loan Refinancing
      Fast, easy refinancing—without the kinks.
    • Mortgages
      Buy a home or refinance with confidence.
    • Personal Loans
      Fund the unexpected with a personal loan.
  • Banking
    • Checking with Rewards
      From monthly cash to student loan rate discounts, get the Checking rewards that meet your needs.
    • Cashback Credit Card
      Redeem cashback towards student loans.
    • High Yield Savings
      Build your savings with a highly competitive interest rate.
  • Resources
    • Financial Resources
      Navigate your financial journey.
    • Laurel Road Perks! ®
      Exclusive member discounts on premium brands, subscriptions, and services.
    • Customer Testimonials
      Hear what our customers have to say.
    • FAQs
      Get answers to frequently asked questions.
    • I’m Also a Doctor
      A new series documenting the extraordinary passions of doctors.
  • For Doctors
  • Nurses
  • Sign In
  • The “Battle” on Higher Education

The “Battle” on Higher Education

Graduate students have just dodged a bullet. Up until this past month, higher education faced a major tax hike. There...

Published January 02, 2018

3 min read

Graduate students have just dodged a bullet. Up until this past month, higher education faced a major tax hike. There were several measures proposed, but the one that stood out most involved students attending graduate school on tuition waivers. Those students were at risk of being taxed on the free portion of their tuition, ultimately hindering their ability to attend school altogether. The reaction was uproar and the result, a reversal of the measure.

Universities had their own hurdles as well. One involved new tax stipulations on endowments – that too, has been taken off the table, for now. As these, and other pieces of the initial higher education tax proposal fall apart, it would seem the battle between Congress and higher education would come to a stalemate, but that doesn’t seem likely.

Many speculate that this is just the beginning of what is to be the “war on college”. Many politicians favor raising taxes on universities and cutting spending on higher education altogether. In fact, the Higher Education Act – a federal law implemented in 1965 which governs financial aid programs – is slated for a possible rewrite which would result in a complete federal overhaul.

What to expect now

The latest Higher Education Act revisions (PROSPER Act) have advanced to the House for voting. The main goal of the act is to make postsecondary education more affordable to all. It includes simplifying the higher education system and cutting many loan programs – all but one to be exact. And allowing just two student loan repayment plans – a ten year and an income-driven plan.

If it passes, long-standing programs like the Public Service Loan Forgiveness program would be cut. One addition to the PROSPER Act includes allowing students to use federal aid for less expensive education that is easier and faster to get – such as job training programs, apprenticeships, and short-term certifications.

Some feel these measures are rushed and that universities and students need more time to prepare for these potential major changes. Others say they act is outdated and is in desperate need of an overhaul.  Whatever the case, the bill is moving swiftly through the House and how it will all end up remains to be seen.

 

Do you have student loans? Check out Laurel Road’s refinancing options to lower your student debt!

Was this helpful?

You May Also Like

a medical student and resident walking in the corridors of hospital discussing their programs

A Match Made in Heaven: How Medical Students and R...

Read
a young man standing over rocks near beach

Does TV Cause More Stress Than Student Loans?

Read

Don't miss the latest financial resources.

Get tailored Laurel Road resources delivered to your inbox.

    Share

    • Copy Link
    • Email
    • Social

    Social Media Share

    >

    Search Results

    0
    Laurel Road
    • About KeyBank
    • About Laurel Road
    • Leadership
    • Press
    • Refer-A-Friend
    • Apple Store
    • Google Play Store
    • Student Loan Refinancing
    • Healthcare Graduate School Loans
    • Mortgage
    • Personal Loans
    • Financial Resources
    • FAQ
    • COVID-19 Response
    • Contact Us
    • Partner With Us
    • Our Technology
    • Sitemap
    • Online Privacy Statement
    • User Agreement
    • Report Suspicious Activity

    Laurel Road is a brand of KeyBank N.A. All products are offered by KeyBank N.A. Student loans, mortgages, personal loans, and credit cards ARE NOT FDIC INSURED OR GUARANTEED. Member FDIC. NMLS #399797. Equal Housing Lender. ©2023 KeyCorp® All Rights Reserved.

    Equal Housing Lender logo FDIC Member logo