The rising cost of college has made post-secondary education prohibitive for many individuals and families. I strongly support easing the burden of student loans for students.
In 2007, Congress cut the interest rate on subsidized Stafford loans from 6.8% to 3.4% for five years in order to ease repayments for students. In 2012, the 3.4% interest rate was extended for one year with my strong support. I will push for a long-term solution.
I am the lead cosponsor of the Student Loan Employment Benefits Act of 2013 (H.R. 395) which would allow employees to set up a student loan payment assistance program in which the employee could use up to $5,000 per year in pre-tax earnings to repay loans.