Issue Position: Supporting Education

Issue Position

Students should be able to receive all the education for which they are willing to work. We need a stronger commitment to education from pre-K to post-grad. Our economy and democracy depend on it.

Students' futures are at stake. The cost of higher education continues to grow higher and higher, and if Republicans have their way, the amount of student financial assistance will shrink until it disappears. Between 2004 and 2012, the average Texas student debt balance grew by 61 percent. This must change.

I authored the successful American Opportunity Tax Credit that provides up to $10,000 over four years to reimburse higher education expenses for students and their families. For the first time since higher education tax credits were created, my tax cut expanded the definition of a "qualified education expense" to include textbooks, making them more affordable.

As a strong advocate for student debt reduction, my work has resulted in simplifying the Free Application for Federal Student Aid (FAFSA). Students and their families may now use earlier tax data to complete the FAFSA, and the form is now available in October instead of January. These improvements mean that applications may be filed months earlier than previously possible, making applying for aid easier and more reliable. Recognizing the need for further simplification, I introduced the Equitable Student Aid Access Act, which proposes important changes to the federal aid model.

I remain a strong supporter -- and sponsor -- of Senator Elizabeth Warren's "Bank on Students Emergency Loan Refinancing Act." Senator Warren, a former UT Law professor, is a friend committed to reform. Her student loan bill would have directed the Secretary of Education to refinance the unpaid principal, accrued unpaid interest, and late charges on some Direct Loans and Education Loans. Participation is fully voluntary. This would have been paid for by closing tax loopholes for the wealthiest few.

Source