Dear Friends,

Pursuing higher education should not result in a lifetime of debt. I have heard from constituents who cannot afford to buy homes, start families, or buy their basic necessities because of crushing student loan debt. 

Since President Biden took office, more than 3.6 million Americans have seen their loans forgiven. Starting next month, borrowers enrolled in the SAVE plan who originally took out $12,000 or less in loans, and have been in repayment for at least ten years, will have their remaining debt canceled.

6.9 million borrowers are currently enrolled in the SAVE Plan, an income-driven repayment plan that can cut your loan payments in half or even more, including more than 71,000 Connecticut residents. The majority of borrowers enrolled in the SAVE Plan are currently making no monthly payment. You can learn more about the SAVE Plan and enroll at StudentAid.gov/SAVE.

If you have defaulted on your student loans, the Department of Education is offering a one-time program to get back on track. Fresh Start can automatically restore your access to federal student aid. Visit StudentAid.gov/FreshStart to sign up.

I support the President’s efforts to offer working-class Americans debt relief and am working in Congress to reduce the burden of student debt and lower college costs:     

• For graduates who work in public service, we created the Public Service Loan Forgiveness Program so workers can have their loans forgiven after 10 years of service. Find out if you qualify and register here. 
  
• I voted for the largest Pell Grant increase in nearly 15 years, lifting the maximum Pell Grant award to $7,395 for this academic year. I’m also cosponsoring legislation to ensure Pell Grants keep pace with inflation. 
  
• My ACTION for National Service Act would reduce the burden of student loan debt by ensuring young people who serve two full terms of service are rewarded with four years of average in-state tuition where their college is located. 
  I support Rep. Joe Courtney’s Student Loan Interest Elimination Act, which would refinance the interest rate of all existing federal student loans to zero percent and cap interest rates for future borrowers.   

Should you have any questions or if I can assist you with a federal agency, please contact my District Office at 860-278-8888. To follow what I’m working on both in Washington and in Connecticut, visit my Facebook page, follow me on Twitter, or follow me on Instagram.     

Regards,

John B. Larson
Member of Congress