Bill Introduced to Secure Affordable Student Loans for Every Borrower

Earlier this week, Representative Rosa DeLauro (D-CT) introduced the Affordable Loans for Any Student Act of 2022.The bill seeks to streamline existing student loan programs by creating two options for borrowers to choose from: a fixed repayment plan over a period of 10 years or an income-based repayment plan over a period of 20 years. “Young college graduates with good jobs are struggling to make the first big investments in their lives like buying a home or even to purchase necessities and pay rent because of the debt that they hold. For our next generation to fulfill their dreams, contribute to economic innovation and create a prosperous future for themselves and their families, we must simplify the repayment process and make it more affordable for student borrowers,” said DeLauro in a press release. Text of the bill can be found here.