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Photo: Bebeto Matthews / AP

House members are set to put forward a higher-ed revamp this week, including instituting borrowing caps and eliminating some loan forgiveness programs in the $1.34 trillion federal student loan program, the Wall Street Journal reported.

Why it matters: Republicans wrote the bill without any Democratic input, according to Democratic congressional aides who said they have yet to even see the text of the bill. Based on what has been reported, aides told Axios Democrats on the committee will oppose what they see as a harmful bill, and they expect backlash from most of the higher education community except for-profit universities.

Big picture: This would be the most significant overhaul of education policy in years, deregulating parts of the industry and adding incentives for universities to ensure students graduate with skills that will land them a job and promoting other educational paths besides traditional universities.

The bill would also:

  • Force schools to pay back federal loans that a student is not able to pay post-graduation.
  • Provide more funding to community colleges who partner with the private sector to create apprenticeships.
  • Eases up on for-profit colleges, allowing equal access to federal aid for profit and non profit schools and eliminating the gainful employment regulation on for-profits.
  • End loan-forgiveness programs for public-service employees.
  • End the program that sets monthly payments based on income for private-sector workers.
  • Simplify the FAFSA application process.

What's next: The Congressional Budget Office is expected to give the bill a score this week, according to WSJ. But the bill will probably take about a year to make its way through Congress, and will likely see major changes before making it into law.

Go deeper

Updated 9 hours ago - Sports

The potential GOAT of chess faces intriguing challenger

Illustration: Sarah Grillo/Axios

The World Chess Championship between Norway's Magnus Carlsen and Russia's Ian Nepomniachtchi began on Friday, 1,094 days after Carlsen won his fourth consecutive title.

Why it matters: During the long, COVID-fueled layoff, chess entered a new era, and with the championship finally here, the age-old game is ready for its close-up.

Department of Interior proposes raising cost of drilling on public lands

A horizontal drilling rig and a pump jack sit on federal land in Lea County, New Mexico. Photo: Callaghan O'Hare/Bloomberg via Getty Images

Oil and gas companies should pay more to drill on federal lands and waters, the Department of the Interior argued in a report released Friday, saying that the current rates were "outdated."

Driving the news: The Department of Interior report said that the federal government's oil and gas leasing and permitting program "fails to provide a fair return to taxpayers, even before factoring in the resulting climate-related costs that must be borne by taxpayers."

11 hours ago - Health

U.S. to restrict air travel from 8 countries over new COVID variant concerns

A COVID-19 vaccine is administered. Photo by Joe Raedle/Getty Images

The U.S. will impose new air travel restrictions in response to the Omicron variant, a new COVID strain first detected in South Africa, President Biden announced Friday.

The big picture: Air travel from South Africa, Botswana, Zimbabwe, Namibia, Lesotho, Eswatini, Mozambique and Malawi will be restricted starting on Monday.

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