Combating Predatory Lending in Higher Education Act of 2023
This bill includes Direct PLUS Loans that are made to graduate students and parents on behalf of dependent students in an institution of higher education's (IHE's) cohort default rate. This rate is the percentage of an IHE's borrowers who enter repayment and default on certain student loans.
Further, the Department of Education must include this information in its annual report on cohort default rates.