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Public Statements

The Get Relief From Academic Debt Act of 2013

Floor Speech

Location: Washington, DC

Mrs. NEGRETE MCLEOD. Mr. Speaker, upon graduation, many students are faced with repayment of student loans, in addition to seeking employment in a very tough job market. Over 5.4 million Americans have at least one past-due student loan account which affects their credit and our Nation's economy.

Last week my colleague, Representative Janice Hahn, and I introduced H.R. 2349, the Get Relief from Academic Debt Act of 2013. The GRAD Act would extend the grace period of 6 months to 1 year after graduation before the onset of repayment of the Federal student loans.

By extending the grace period, graduates have a longer period of opportunity to find a good-paying job before repayment of these loans begins. I urge the House to consider this legislation for the millions of the Nation's graduate students who are struggling to pay back loans.

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