Washington — Legislation introduced in Congress this week that would overhaul the federal student-loan programs by changing how interest rates are set and how borrowers repay their loans is getting mixed reviews from student-aid advocates.

The bill, sponsored by Rep. Thomas E. Petri, a Wisconsin Republican, is unlikely to progress through Congress anytime soon, but the proposal could be debated as part of the next reauthorization of the Higher Education Act, which would happen next year at the earliest.

Under the proposal, borrowers’ monthly payments would be capped at 15 percent of their discretionary income, and the money would be withdrawn directly from their paychecks until their loan was paid off. Also, the interest that accrues on a loan would be capped at 50 percent of its original balance.

The proposal would end most of the government’s current loan-forgiveness…

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