Fight for Student loan debt to be forgiven
Since the outbreak of COVID-19 in late 2019 and throughout 2020, demands for student loan forgiveness have grown significantly. When elected, I will actively advocate for targeted student loan forgiveness for certain essential fields, recognizing the sacrifices made by dedicated professionals.
My proposed legislation will focus on forgiving student loans for teachers (K-12), first responders (police, firefighters, EMTs, paramedics), military personnel who accrued debt before entering service, and nurses who continue to work in critical areas like trauma, emergency, and maternity care.
To recognize the significant contributions of these individuals, the forgiveness program will be structured as follows: Starting at 50% forgiveness after 10 years of service, it will increase to 75% forgiveness at 15 years, eventually culminating in 100% forgiveness after 20 years of service. During this period, participants will only be required to pay interest on their loans.
The loan forgiveness will apply exclusively to federal student loans, while third-party loans will be governed by terms established during the application process. Achieving each milestone will reduce the principal loan amount accordingly, providing benefits at each stage. If a participant does not reach the subsequent milestone, they will be responsible for paying off any remaining balance.
This targeted approach seeks to acknowledge the critical role played by professionals in these fields and alleviate some of the financial burdens they face, ensuring that their dedication to public service is recognized and rewarded.