Bipartisan bill makes college more affordable for middle-class families
Congressman Patrick Meehan (R-Pa.) and Congresswoman Suzan DelBene (D-Wa.) this week introduced the Higher Education Loan Payments (HELP) for Students and Parents Act, bipartisan legislation that will make college more affordable by modernizing how the tax code treats employer contributions toward student loan repayment.
“The average American student graduates with more than $37,000 in student debt and for too many middle class students, a college degree is simply out of reach all together,” said Congressman Meehan. “Many employers offer benefits like student loan repayment programs and matching contributions to college savings plans. These benefits ease the burden of debt and help make a college degree more obtainable for students. But our tax code offers no incentive to offer them. This bill will change that. By incentivizing employers to offer these benefits to their employees, we can enable more students and families to access them. Ultimately it will help Americans graduate with less debt and get out from underneath their debt faster. I’m pleased to have the opportunity to work with Congresswoman DelBene on this effort to make college more affordable for American families.”