ADA Endorses Two Student Loan Bills
March 27, 2014
The Association this week endorsed two student loan measures on Capitol Hill.
In the Senate, S. 1066, the Federal Student Loan Refinancing Act, introduced by Sen. Kirsten Gillibrand (D-N.Y.), would allow college graduates to consolidate or refinance direct unsubsidized Stafford Loans at a fixed rate of 4 percent.
A House bill (H.R. 1527) introduced by Rep. Charles Rangel (D-N.Y.) would expand the federal income tax deduction for student loan interest and remove the current income cap that limits the availability of the deduction.