Issue Position: Student Loan Debt

Issue Position

Roughly 70 percent of college graduates leave college with student loan debt, and the more than 42 million Americans currently total almost $1.4 trillion in outstanding debt, according to the latest U.S. Department of Education data. Sadly, many of them are unable to find employment that enables them to make standard repayments while also allowing them to provide for their families, if they can find employment at all. Daryl will introduce legislation to clarify the "undue hardship" standard for discharging student loans in bankruptcy so that borrowers who truly need relief can seek it in the U.S. Bankruptcy Court, while working to increase the availability of student loan modification and assistance programs to a broader spectrum of borrowers. He will also work on addressing the causes of the current crisis, including the rising cost of college tuition, as well as educating parents and students regarding the return on investment of a degree compared to other alternatives, like vocational and technical schools. He will look carefully and critically at the student loan approval process and the potentially predatory lending practices that it creates. Daryl believes that freedom from the crushing effects of debt will exponentially improve the economy.

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