Ranking Member Scott Applauds Administration's Progress to Reduce Student Loan Debt by Fixing Income-Driven Repayment

Press Release

Today, Ranking Member Bobby Scott (VA-03) applauded Secretary of Education Miguel Cardona for the Department's proposed rule to reform the Income-Driven Repayment (IDR) system.

The proposed reforms make the IDR program more generous for low-income borrowers, automatically enrolls delinquent borrowers in the IDR program, sunsets old IDR plans, and eliminates monthly accrual of interest to borrowers.

"I am encouraged by the Department's proposed rule, which makes significant changes that greatly benefit current and future borrowers," Scott wrote. "The Department's efforts to streamline the IDR program by making it easier for borrowers to enroll in the REPAYE plan, phasing out older IDR plans, and simplifying the recertification process are smart reforms to the program. By creating quicker pathways to forgiveness and lowering the monthly payments of most borrowers, the proposed rule would make student loan repayment more affordable and manageable for borrowers."

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