Brainerd Dispatch: Nolan, colleagues introduce bill to help student borrowers
U.S. Reps. Rick Nolan, D-Minn., Mark Pocan, D-Wis., and Frederica Wilson, D-Fla., on Friday introduced the Relief for Underwater Student Borrowers Act. The bill would allow student loan borrowers who have been granted debt relief as a result of consistent repayment towards their student loan debt an exemption from being taxed on the amount forgiven, a release from Nolan's office said.
"The heart of our economic success as a nation is education and preparation of our youth," Nolan said. "And as a former teacher, I know there is no better investment than in the education of our next generation. Students shouldn't have to drown in debt just to go to school and get an education. I'm proud to join my colleagues in introducing this legislation to relieve some of this burden."