I just returned from the Federal Reserve Bank in Philadelphia where I was invited to present my Student Debt Relief Act to economists, researchers, policy analysts and industry professionals. It was an honor to share my bill with many of the people who influenced it through their years of research.
My refinancing bill will address what the research reflects – we must act to alleviate the student loan repayment burden before it diminishes the purchasing power of an entire generation. Inaction is not acceptable.
I shared my thoughts on what the state’s role should be in providing relief to borrowers by refinancing to reduce interest rates, lowering monthly payments and extending the repayment period. My bill is a response to an overly-complicated federal loan system. It’s meant to complement and correct federal policy through state action.
My proposed legislation was met with very positive response and important feedback. I left Philadelphia confident that this bill is necessary. I am energized and ready to make another push in 2017 for “Higher Ed, Lower Debt” for Missouri.