Trump administration wants to put a limit on student loans

The Trump administration urged Congress to put a cap on student loan borrowing in order to encourage responsible borrowing, one of several proposals for updating the Higher Education Act in the United States, writes Katie Lobosco for CNN.

Currently, the amount an undergraduate student can borrow from the federal government is capped at US$57,500 over the student's lifetime. But parents of undergraduates and graduate students face no such limits, and can borrow as much as they need – with the price tag set by higher education institutions.

Some research suggests that unlimited borrowing may encourage colleges to drive up the price of tuition. Last year, North Carolina Republican Representative Virginia Foxx proposed capping graduate student borrowing at US$28,500 annually and the amount that parents can borrow on behalf of their children at US$12,500 annually. But her bill never made it the House floor for a vote.
Full report on the CNN site