Kicking off the Tackling the Student Debt Tour
Today, Senator Warner kicked off his “Tackling the Student Debt Tour” where he will travel to colleges and universities across the Commonwealth to discuss his work to provide new tools to students to pay down their student loans.
Over 1 million Virginians hold student loan debt, with the average debt costing Virginia students almost $30,000. At $1.2 trillion, Americans now carry more student debt than credit card debt. Senator Warner understands the importance of advancing legislation that tackles our student debt crisis.
Senator Warner was the first in his family to graduate college, and used student loans to obtain his degree. His own experience informs his work in the Senate, and it is his firm belief that all students should have a fair shot at success. Because nobody should go broke just because they went to college.
He has introduced numerous bills to address the student debt crisis:
The Dynamic Student Loan Repayment Act: Senators Mark Warner and Marco Rubio (R-FL) introduced this initiative to create a streamlined and automatic income-based repayment system that helps borrowers pay back their debt at a more affordable and manageable pace.
The Employer Participation in Refinancing Act: Senator Warner partnered with Republican Senators John Thune and Kelly Ayotte to advance the option for employers to pay down an employee’s already existing student debt through the tax-free employer education assistance program.
The Student Right to Know Before You Go Act: With Senators Marco Rubio and Ron Wyden, Senator Warner introduced the bipartisan bill to increase the transparency of colleges’ performances. This initiative is one step forward in allowing students and their families to understand the financial investments and potential outcomes that come from a post-secondary education. Be sure to check out our blog throughout the week to see more from the “Tackling the Student Debt Tour.”