Foxx Introduces Legislation to Give Borrowers Timely Relief
WASHINGTON, D.C., September 20, 2022
Today, Education and Labor Committee Republican Leader Virginia Foxx (R-NC), joined by many colleagues, introduced the Simplified Joint Consolidation Separation Act (H.R. 8909), which will establish a more efficient process for separating joint consolidation loans to ensure timely relief for borrowers. Foxx’s legislation is a commonsense alternative to S. 1098, a bill being considered on the House floor this week which delays support for borrowers who need assistance immediately, cedes more control to the Education Secretary, and fails to protect taxpayers.
Upon introduction, Foxx issued the following statement:
“When borrowers need to get out of a joint consolidated loan, whether due to a divorce or abuse, they should be able to do so without having to navigate a web of bureaucratic red tape.
“My legislation puts the interests of borrowers first, without compromising the integrity of the loan program. It also protects taxpayers, a group Democrats too often ignore, by ensuring the Education Secretary’s authority is narrowly tailored to help those in need.
“The Senate-passed bill Democrats are touting, while well-intentioned, is flawed and could harm the very borrowers we are trying to protect. Democrats are taking advantage of a difficult situation for some borrowers to create a backdoor to enact more student loan bailouts. That is unacceptable.
“H.R. 8909 will help borrowers without handing Washington bureaucrats more control over the nation’s student loan programs.”
To read the bill, click here.
To read the bill summary, click here.
To read a fact sheet, click here.