On the recordJuly 20, 2020
This amendment is a valuable amendment to tackle what we knew before the pandemic was a problem: $1.6 trillion in student loan debt, $119 billion of that for private student loans. What we do know is, while the default rate on private student loans is less, it amounts to $4 billion of defaulting private student loan debts. That is not an inconsequential amount of money. This amendment really comes from me as a former professor, as a mother, and as a grandmother. The burden of student loan debt in this country is too high, and now, as a result of a pandemic, through no fault of their own, many borrowers are falling into delinquency, which will hurt our economy, will hurt their buying power, and will hurt their credit rating for a long time to come. So I proudly produced this amendment, and I ask for support. Mr. Speaker, I reserve the balance of my time. {time} 1630
Source
govinfo.gov
