Democrat Eric Swalwell represents California's 14th Congressional District. 

Friends,

After President Biden’s partial student debt cancellation announcement, I was featured in the Los Angeles Times to share my first-hand experience with the growing student loan crisis facing Americans today and what a more equitable solution can look like.

Student loans have been a part of my life for decades – and still are. I was the first in my family to attend college, much less graduate from law school. And in order to pursue my dreams, my only option was to take out loans.

It was an investment in my future, and I knew what I was in for.

Now, our nation is trying to grapple with a trillion dollar debt problem, even with the up to $20,000 relief Biden has given to borrowers who make under $125,000 a year.

The Executive Order was a great first step, but Congress must also act on college affordability and debt for the long-term, like increasing Pell Grants, reforming our college accountability system, and eliminating the government’s ability to make money off federal student loans. 

We can do this now before the COVID-19 forbearance ends in December. When payments resume, student loan borrowers shouldn’t have to worry about interest rates stacking up before making a dent in their loan totals. My bill, the No Student Loan Interest Act, can clear the path for student borrowers to pay off their balances.

You can learn more about the No Student Loan Interest Act and our nation’s student loan debt challenges by reading the Los Angeles Times here.

– Eric