142
GOP Proposal Could Deduct Student Loan Payments from Paychecks
Post Body
​
Summary:
​
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.
Author
Account Strength
100%
Account Age
9 years
Verified Email
Yes
Verified Flair
Yes
Total Karma
61,141
Link Karma
40,245
Comment Karma
20,392
Profile updated: 4 days ago
Posts updated: 10 months ago
Subreddit
Post Details
We try to extract some basic information from the post title. This is not
always successful or accurate, please use your best judgement and compare
these values to the post title and body for confirmation.
- Posted
- 5 years ago
- Reddit URL
- View post on reddit.com
- External URL
- reddit.com/r/StudentLoan...