Congressman Gonzalez introduces bill to forgive student loan debt
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Update:
WASHINGTON (KVEO) — Congressman Vicente Gonzalez has introduced a new bill to forgive student loan debt.
According to a statement from the congressman’s office, HR 8514, Student Relief Bill directs the Secretary of Education to provide federal student loan forgiveness in the amount of $25,000 to borrowers.
The student loan relief bill, as introduced, will provide $775.5 billion in debt relief to more than 43 million Americans and cancel nearly half of the debt privately owned student.
The statement said that 69% of students take out loans to help them with their studies.
“Students and families are going into debt tens of thousands of dollars to pay for a quality education,” Congressman Gonzalez said in the statement. “It’s not accessible, sustainable or fair. The student loan relief bill will ease the strain on our students without causing significant financial strain on the US economy and will give borrowers a head start in life. Students need debt relief now and my legislation will provide immediate help to those struggling with loans.
To learn more about the proposed student loan relief bill, Click here.