MIL-OSI USA: Representatives Ramirez, Bonamici, Levin Introduce Legislation to Cap Student Loan Interest Rates...

Contributing sentiments towards policy:

53% : Student loan debt falls particularly hard on servicemembers, given the hurdles they must navigate to receive the benefits they are entitled to.
52% : According to a report by the U.S. Government Accountability Office, as of 2020, nearly 200,000 active-duty servicemembers held federal student loan debt, and nearly half of those balances were more than $13,000.
51% : ""We have an obligation to support the Americans who serve our country, and that includes preventing servicemembers from being saddled with unmanageable student loan debt.
49% : Our bill would help servicemembers tackle student debt by extending interest rate limitations to student loans incurred before entering the military, and therefore cap how fluctuating rates may impact servicemembers' pocketbooks," said Congressman Levin.
46% : Currently, the SCRA protects servicemembers from high interest rates on school loans by capping them at 6%, which applies to student debt that servicemembers or their spouses incurred before entering the military.
44% : With an outstanding balance of more than $1.6 trillion, student loan debt has surpassed credit cards as the largest cumulative consumer debt in America, second only to mortgages.

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