On the recordJuly 24, 2012
The income-based repayment program is trying to provide student loan relief at a time when student loan debt in this country now exceeds $1 trillion--higher than credit card debt, higher than car loan debt. It is a commonsense program, fully paid for. The Student Aid and Fiscal Responsibility Act, signed into law in 2010, offset every nickel of cost in the income-based repayment program; and yet here we are, debating a bill at a time of crisis for middle class families because of student loan debt, denying them the needed relief which will help the U.S. economy.
