Helping Reduce Student Debt

Statement

On Wednesday, I spoke on the House floor about legislation I authored to help lower student debt and how I support President Obama's newly announced plan to also help lower reduce debt. My bill, which I sponsored with Sen. Dick Durbin (D-IL), would restore fairness in student lending by treating privately issued student loans in bankruptcy the same as other types of private debt.

People who seek higher education to better their futures should not be dissuaded from doing so by the threat of financial ruin. The bankruptcy system should work as a safety net that allows people to get the education they want with the assurance that, should their finances come under strain by layoffs, accidents, or other unforeseen life events, they will be protected. My bill takes a modest but important step in achieving this goal. I am a longtime advocate of making a higher education more affordable and accessible, most notably through the establishment of the Tennessee Lottery

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