Biden Administration Moves to Eliminate Junk Fees in Higher Education

The new rules, effective July 1, aim to reduce hidden costs for students, including loan origination and textbook fees.

The Biden administration announces initiatives to eliminate hidden 'junk' fees in higher education, impacting millions of students.
New regulations will abolish student loan origination fees, end college banking junk fees, and stop automatic textbook charges.
Measures include preventing colleges from keeping unspent meal plan funds and increasing transparency in college costs.
The actions are part of a broader effort to make higher education more affordable and accessible.
The changes are set to take effect on July 1, following final regulations issued in late 2023.