Congressman introduces legislation to make college more affordab - WNEM TV 5

Congressman introduces legislation to make college more affordable

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Congressman Dan Kildee introduced new legislation that would make college more affordable for students and families.

The announcement took place at Baker College in Flint on Thursday.

“Student loan debt has soared in recent years, and there are now over 40 million federal and private student loan borrowers who collectively owe $1.2 trillion in student loans. The average student has $28,400 of loan debt, and total student loan debt in the U.S. has now surpassed credit card and auto loan debt totals,” a press release sent by Kildee’s office said.

The legislation would provide tax relief and increase the importance of scholarships and Pell Grants by making them exempt from taxes, the press release said.

The legislation includes three bills: the Scholarship Tax Relief for Students Act, the Student Debt Repayment Fairness Act, and the Student Loan Bankruptcy Parity Act.

“The soaring cost of college is crushing students and forcing students to delay other investments, including buying a car, owning a home or saving for retirement. This doesn’t just have a negative impact on individual families – it also harms our larger economy as a whole,” Kildee said.

The first bill would exempt Pell Grants and scholarships from income taxes. The second bill would end unfair lending practices. The third bill would allow student loans to be discharged if bankruptcy is filed.

“My new package of bills will help to tackle the issues of soaring student debt head-on so that we can make college more affordable and ensure that our future generations can unleash their full potential in the new economy,” Kildee said.

The bills will be introduced to the U.S. House of Representatives on Sept. 8.

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