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Transforming Student Debt

Floor Speech

Date: April 1, 2022
Location: Washington, DC

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Ms. KAPTUR. Madam Speaker, I rise today to reintroduce our Transforming Student Debt to Home Equity Act.

Home ownership is a key that opens the door to the middle class for tens of millions of Americans. But today, too many young workers and their families are weighed down by student loan debt that keeps this dream out of their reach.

The Transforming Student Debt to Home Equity Act would create a pilot program to test various approaches that combine student loan payments and mortgage payments into one monthly bill. It would empower hardworking Americans that are current on student loan repayments to actually combine their loan costs, allowing them to build home equity.

The purpose of this act is to move forward with those pilot projects, and with millions of vacant homes around our country, this legislation would spur neighborhood revitalization and improve our quality of life.

The promises of the American Dream should be available to all, so let us lift up and invest in new means to help the next generation and invest in middle-class workers and families that build up our Nation by investing in it.

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