Legislation to reduce student loan financial burden on parents

by Times Weekly Staff June 13, 2022April 3, 2024

Congressman Bill Foster (D-IL) introduced the Parents PLUS Loan Fairness and Responsibility Act. This legislation would allow students to take over the student debt that was incurred on their behalf, providing a sensible solution for parents facing multiple financial burdens.

Specifically, the legislation would allow parents to transfer Parents PLUS loans to the student with the consent of the parent, student, and lender, provided the student meets the credit requirements for the PLUS loan program and is at least six months removed from leaving school. After transfer, the loan would be eligible for Public Service Loan Forgiveness.

“As college costs and economic burdens continue to rise, federal law should allow families to determine financial liability for PLUS loans in a way that accommodates their financial situation,” said Foster. “This legislation would provide a common-sense solution by allowing a child, if they’re willing, to take financial responsibility for the loans that allowed them to go to college.”

The Parents PLUS Loan Fairness and Responsibility Act is endorsed by the National Education Association.

One reply on “Legislation to reduce student loan financial burden on parents”

Gregory says:

June 14, 2022 at 9:49 am

PLUS Loans should be part of the PSLF Waiver program. I have been a public servant (math teacher at a title 1 high school) and neither the PSLF nor Teacher Forgiveness programs apply to my PLUS loans which were used for my daughter’s education in nursing, another public servant. That doesn’t make sense to me

Comments are closed.

Juneteenth, America’s newest federal holiday, was meant to symbolize a national reckoning with history and a celebration of freedom when President Joe Biden signed the bipartisan legislation into law in 2021. Yet, just a few years later, we find Juneteenth events canceled in cities across Indiana, Illinois, and Oregon, as backlash against diversity, equity, and inclusion (DEI) initiatives intensifies. This is not just an administrative shift, it’s a cultural one. As some seek to erase or diminish Black joy, we must remember that indulging in joy itself has always been an act of resistance.

From the earliest Juneteenth celebrations to today’s block parties and art festivals, play and happiness have been tools for survival and defiance. For Black and brown communities, joy has always been revolutionary. BLM was founded in 2013 in response to unspeakable tragedies, ones where ruthless oppression, abuse of power, and brutalities flooded our social media timelines following the murder of innocent young men like Trayvon Martin and Michael Brown. Yet even in mourning, our communities found ways to laugh, dance, and dream together. The movement’s global resonance is rooted in this duality, the courage to confront injustice, and the audacity to celebrate life.

More recently, we’ve invested in youth sports programs in local communities and abroad, from Brooklyn, New York to Ghana, to ensure we are building from the inside out and advocating for the most vulnerable. We are guided by the wisdom of our ancestors, who, even in the darkest times, found ways to nurture hope and rebuild. This Juneteenth, let us do more than remember the past. Let us build the future. Migration is a declaration of hope. Just as Black Americans fled the South during the Great Migration seeking dignity, safety, and opportunity, today’s immigrants are doing the same. We call on local leaders, philanthropists, and allies to invest in Black communities and to stand in solidarity with all who are still fighting for freedom. The right to give, to gather, and to celebrate, are as vital as any policy change.

Support our work

Want more news?

Join our community for free. Sign up now.

Related

One reply on “Legislation to reduce student loan financial burden on parents”