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GOP Proposal Could Deduct Student Loan Payments from Paychecks
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https://www.cnbc.com/2019/02/13/a-gop-proposal-would-snatch-your-student-loan-payment-right-from-your-paycheck.html

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Summary:

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Senator Lamar Alexander (R-TN), Chairman of the Health, Education, Labor and Pensions Committee, recently introduced a proposal to overhaul the US student debt repayment system. Alexander's proposal would consolidate repayment into two options: one that spreads payments over a decade and the other that caps payments at 10% of discretionary income. Employers would automatically deduct loan payments from employee paychecks and send them to the government. Lamar said his bill will streamline the repayment system and protect working debtors. Some consumer advocates have criticized his bill as mandatory wage garnishment that limits budgeting flexibility. The bill would affect up to 40 million Americans.

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5 years ago