Senate megabill poised to change the way Americans borrow and repay student loans

Advanced ➔ Results Senate megabill poised to change the way Americans borrow and repay student loansBoth versions of the domestic policy bill passed by the Senate and House include major changes to some loan limits and repayment plans

ETResizeListen(11 min)Changing the way we finance college could have significant savings for the government. (Photo by Brandon Bell/Getty Images) Photo: Getty ImagesRepublican members of Congress are set to make fundamental changes to how families finance college and repay their student loans

As part of their mega tax and spending bill, GOP lawmakers are looking to, among other things, reshape student-loan repayment, put more restrictive limits on some types of borrowing, and create new accountability measures for colleges

The Senate passed its version of the bill along party lines Tuesday

Now, it heads to the House of Representatives, who apved similar student loan-related visions in May

The Author Jillian BermanJillian Berman is assistant managing editor, news enterprise, at MarketWatch, where she covers student loans and consumer debt

You can her on Twitter @JillianBerman

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