PRESS CONFERENCE: Rep. Ted Deutch to Unveil New Student Loan Legislation this Thursday
Rep. Lois Frankel, Palm Beach State College Officials, and Local Borrowers to Join Deutch for Press Conference on Generations of Student Loan Debt
With nearly one million recent college graduates entering repayment on their student loans this month, Congressman Ted Deutch (FL-21) is unveiling new legislation this Thursday, November 12, 2015 aimed at protecting borrowers amid our $1.3 trillion student loan debt crisis. Joining Congressman Deutch in support of these new legislative efforts will be Congresswoman Lois Frankel (FL-22), senior administrators from Palm Beach State College, and Florida borrowers each struggling to repay student debt.
The event will detail three new bills that strengthen protections for borrowers of all ages, from young professionals just entering repayment to seniors whose Social Security checks have been garnished by owed debt. They include the Student Loan Payment Optimization Act, which requires lenders to more fairly apply student loan payments, the Student Loan Transfers Disclosure Act, which keeps borrowers informed when their debt is sold to new servicers, and the Social Security Garnishment Modernization Act, which works to protect seniors from falling into poverty due to monthly benefits garnished by student debt payments.