Schumer Unveils Legislation To Reduce Student Debt
Senator Charles Schumer was joined by students at Syracuse University on Monday to unveil a legislative package to address the lack of college affordability.
Schumer says the "In The Red College Proposal" will put America on a path to debt-free college.
The legislative package contains three proposals. It would make two years of community college tuition-free, allow borrowers to refinance student loans at lower rates and ensure Pell Grants keep pace with rising costs.
IIn today’s super competitive and globally connected economy, a college education is a necessity, but it is being priced as a luxury – and it is breaking the bank for students and families across Upstate New York. With tuition costs continuing to rise, middle-class students and their families are forced to take on higher levels of debt than ever before. This student debt is debilitating, it is a drag on our economy and it is a huge burden on the shoulders of millions of young Americans,” said Senator Schumer
“That’s why I am working hard with my fellow Senate Democrats to launch our campaign to make sure higher education doesn’t put students in the red, and we will make it our mission to make Congress act.”