Senate Republicans propose student loan reform to tackle rising debt.

Senate Republicans have introduced a package of five bills called the Lowering Education Costs and Debt Act to address America's student debt crisis. The bills aim to target issues that are driving "skyrocketing" higher education costs. The package includes reforms to the college data reporting system, uniform financial aid letters, additional information about loans, and reducing the nine different student loan repayment options offered by the Department of Education to two options. The fate of President Biden's student loan forgiveness plan is expected to be decided by the Supreme Court soon.