Oppose and Vote NO on College Cost Reduction Act

Today I take pen in hand and urge you to OPPOSE and Vote NO on the misleading Republican Bill, the College Cost Reduction Act. It’s likely we’ll see this bill again in the 119th Congress as we did last term. As you know it threatens to dismantle critical consumer protections for student loan borrowers and most likely increase costs for millions of them. This legislation would abolish the Student Loan Borrower Bill of Rights, undoing borrower safeguards against predatory lending practices. It would also eliminate income-driven repayment plans and Public Service Loan Forgiveness, making student loans significantly more expensive for low-income borrowers and public servants. This would likely trap lower income borrowers and public servants into debt they can never effectively repay. Furthermore, the bill removes state oversight of federal student loans, stripping away accountability measures! Overreach indeed! This regressive, misleading legislation favors the interests of the student loan industry over those of hardworking students and families. I urge you to oppose and vote NO on any re-introduced version of the College Cost Reduction Act. Thank You.