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Dear Friend,
After wrapping up another week in Congress, I’m back home in eastern Connecticut for the start of August recess and lots of continued work in the best Congressional District, CT-02. Now, I’m here with an update on two bills I introduced this week, a potentially devastating cut to education funding, and more. As always, thanks for starting your weekend here with me.
A Commonsense Way Congress Can Address Student Debt, Lower the Cost of College, & Save Taxpayer Money
On October 1st, federal student loan payments will resume for the first time in 3.5 years after they were put on pause during the outset of the pandemic. At the same time, a new, higher interest rate of 5.5% will kick in for student borrowers entering their freshman year. That’s a big jump from last year’s rate of 4.99%.
This impending snapback is a stark reminder that Congress needs to act and address the issue of student loan debt and rising interest rates tied to the loans. This week, I introduced the Student Loan Interest Elimination Act. The bill makes the commonsense fix of refinancing all existing federal student loans to zero percent and capping interest rates for future borrowers. Importantly, this would prevent the federal government from profiting off student borrowers’ loans while also saving taxpayer money.
Students and families are already saddling the rising costs of a college education. The federal government should not exacerbate the problem by using the federal student loan program as a source of income. That was not the intention of the Stafford Student Loan program when it was created and it’s time to take us off this harmful treadmill for borrowers. The Student Loan Interest Elimination Act would establish a proven trust fund system to do so and ensure taxpayers don’t pay any price for this change.
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| At Thursday's Education and the Workforce hearing, Rep. Courtney reiterated the importance of eliminating interest on student loans and ensuring taxpayers do not bear the cost. Click here to watch his remarks. |
The average public university student who takes out a federal student loan currently has $26,000 in debt, and at a 5.5% interest rate, would pay $7,800 over the standard 10-year period in interest. That’s the difference between making mortgage or car payments, affording medical care, or saving for a stronger retirement. The Student Loan Interest Elimination Act is particularly important in the wake of the Supreme Court’s decision to strike down President Biden’s student loan forgiveness program. This bill is the commonsense solution students and families are counting on Congress to pass, and again, it comes at no cost to taxpayers.
Working to Improve Safety on College Campuses
When a parent watches their child go off to college, they should be able to trust that schools are taking meaningful steps to keep students safe on campus. Accidents are the leading cause of student fatality on college campuses, but currently, data-keeping practices on these tragedies are seriously lacking. On Tuesday, I reintroduced the COREY Safety Act, a bipartisan bill which would require schools to disclose accidents that result in serious injury or death on their annual safety reports.
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| Read more about the COREY Safety Act here. |
The COREY Safety Act is named for Corey Hausman, a student from Westport who passed away on September 12, 2018, following a pedestrian accident on his college campus, just weeks into his freshman year. Corey’s mother Nanette spearheaded a movement for improved tracking and reporting of on-campus accidents. Nanette Hausman’s vision to improve transparency by reporting them would ultimately lead to better strategies to keep students safe. Read more about the COREY Safety Act here.
A Reminder to Veterans & Survivors: It's Time to Apply for PACT Act Benefits
A quick reminder that there’s an important deadline coming up for PACT Act benefits. If Veterans file a PACT Act claim or submit an intent to file by August 9th, they can receive backdated benefits to August 10th, 2022 – the day President Biden signed the bill into law.
Importantly, the PACT Act fills longstanding gaps in coverage for veterans exposed to toxins in the Vietnam War, Gulf War, & Post 9/11 era. Coming up on one year since the bill was signed into law, I spoke on the House floor to recap the PACT Act’s success and share the stories of two eastern CT veterans who have had claims approved and received 100% disability awards under the law's expansion of benefits. Click below to watch, and visit VA.gov/PACT to file a claim online.
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One year after passage, Rep. Courtney highlights how the PACT Act is helping veterans.
Click here to watch. |
Extreme House Members Propose 80% Cut to Title I Schools. Here's what it means for CT-02:
Teachers, students, and parents have worked hard over the past couple of years make up for pandemic learning loss, and we’re still in a critical moment for K-12 students. Shockingly, extreme members in the House are now pushing an 80% funding cut for the Title I program. Nearly every school district in Connecticut’s Second District receives resources through Title I, and this senseless cut would do serious harm to their recovery.
I’m staunchly opposed to any proposal which would have such devastating consequences for eastern Connecticut students. Now is the time to keep education investments strong, and I’ll work with my colleagues to prevent this proposal from advancing through Congress.
Thanks for taking some time to read my update. If we can be of any assistance, don’t hesitate to give my Norwich office a call at (860) 886-0139. Have a great weekend!
Sincerely,
Joe Courtney
Member of Congress
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