WASHINGTON,DC – Today (Wednesday, Aug. 11), U.S. Rep Tro Carter announced his bill to forgive up to $50,000 in federal student loans for any and all federal borrowers.
“It’s Congress’ job to improve the lives of the American people,” said Congressman Troy A. Carter Sr. “While some tragedies are out of our hands during this public health crisis, we can and should take action wherever we can. Easing the enormous burden of student loans for the millions of Americans, young and old, saddled with debt is one of my highest priorities in Congress. This legislation will do just that.”
Congressman Carter’s legislation follows President Biden’s extension of the student loan payment moratorium until January 31, 2022 from September 30, 2021. While this extension provides a much-needed cushion for those crushed by student loan debt, Congressman Carter’s bill offers permanent forgiveness for all current, federal borrowers.
“My mother taught me the value of education firsthand,” said Congressman Carter. “While studying at Xavier University in New Orleans, she would attend class with all six of her children in tow. Bringing all six of us to class absolutely wasn’t easy. Many couldn’t have done it. I can’t imagine how we would have gotten by if she had worked so hard to earn her degree, only to graduate with thousands of dollars in debt. Her dedication instilled in me the importance of breaking down barriers in college education and the importance of being a lifelong learner.”
“Education is a lifelong endeavor, key to growing and evolving. Pursuing a dream should not put a shadow over the future. It’s time to end student loan debt to ensure that all have the opportunity to succeed.”
The full text of the bill is available here.