NASHVILLE, Tenn.–Credit unions have again been told to prepare for changes to be coming in Congress as the result of the upcoming mid-term elections.
During CU Student Choice’s Empower U meeting here, Harrison Wadsworth, principal with Washington-based Bose Public Affairs Group, said he expects Republicans will maintain their slim majority in the Senate but will lose their majority in the House following the November elections.
“The other key thing is that many elections for governors, state legislatures, state attorneys general are taking place,” reminded Wadsworth, saying in Washington there is greater recognition that changes at the state levels are increasingly driving change and perceptions.
When it comes to legislation around higher education, Wadsworth said the odds are some sort of bill might be more likely to move forward in the next Congress should it be divided. “The minority will have a lot of say there,” said Wadsworth. “So, perhaps they will sit down at the beginning and work on something that might be able to pass. And a lot of the decks have been cleared in the education space with other bills.”
On other education-related issues, Wadsworth said:
- The new chief operating officer at the Department of Education, Dr. Wayne Johnson, is leading a new FSA Office of Strategy and Transformation that is seeking to implement a new generation and processing/servicing environment to transform direct loan systems. “Universities need to be a little bit afraid of this if the department ever gets it off the ground, because universities are going to have to convert to an entirely new system,” he said. “Servicers are taking steps to delay it or force major changes. “
- What might happen with student loan limits? Wadsworth said it’s unlikely they will increase, given all the “hoopla” around student debt. “I think we will see some sort of cap,” Wadsworth said.