[Congressional Record Volume 167, Number 131 (Tuesday, July 27, 2021)]
[House]
[Page H3920]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                        STUDENT LOAN FORGIVENESS

  (Mr. SWALWELL asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. SWALWELL. Madam Speaker, millions of Americans are in the 
quicksand of student loan debt, and we ought to do something about it.
  Student loan debt is the second highest form of consumer debt 
impacting one-fifth of U.S. households, to the tune of $1.6 trillion. 
At this rate, it would take a college graduate with a bachelor's degree 
nearly 20 years to pay off their loans. That is why I have introduced 
bills to attack this crisis and put more money in the pockets of young 
Americans.
  With bills like my No Student Loan Interest Act, all interest on new 
and existing Federal loans would be eliminated. Zero percent interest 
going forward. And for graduates who devote their careers to public 
service, we ensure they receive loan forgiveness in proportion to their 
years of public service.
  Making college affordable is not a Republican or Democratic issue, it 
is an American issue, so that young Americans can start families, start 
new jobs, and start to build a business, if that is what they desire to 
do. It is one that benefits every living generation from the students 
of yesterday to the students of tomorrow.

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