Rangel Applauds President Obama In The Fight To Lower Student Debt

Statement

Congressman Charles B. Rangel who represents the 13th Congressional District of New York that includes Upper Manhattan and parts of the Bronx, released a statement on the President Obama's announcement to take actions on student debt:

"I applaud President Barack Obama for introducing a plan to give over 40 million student borrowers the resources to help manage their student loan debt. The President has taken this action today to help struggling borrowers because he believes students and the rest of the country need support to build economic security. In partnership with the U.S. Digital Service and the Department of Education's Office of Federal Student Aid, students now are able to know their repayment options, have access to high-quality customer service, stronger consumer protections, and targeted support to repay their student debt successfully on StudentLoans.gov/Repay. With more Americans now than ever attending college and receiving higher education, we must continue to invest in our students and in education so America can keep its edge.

Graduating from college is hard enough. It is clear we can be doing much more for our students. As a longtime advocate for affordable education and reducing student loan debt, I am proud of authoring the Student Loan Interest Deduction (SLID) Act of 2015, which would double tax reductions for student loan interest rates and eliminate income phase-outs. With the SLID Act, those who are looking to start a career, purchase a home, start a business, or save for retirement can to keep a bit more of their income for other pressing needs.

I strongly believe that we must give every possible amount of support to our students, teachers and educators so that future generations of Americans will have the ability to succeed in a global economy and face the challenges of tomorrow. Now is the time to double our investments in young people, not double their rates.

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