09.15.10
“I applaud Congressman Cohen and the other members of the subcommittee for their decisive action to restore fairness and to protect students. This legislation reverses a Republican loophole that protected for-profit lenders and slighted student borrowers. This legislation finally and rightfully puts students’ needs above special interests and lobbyists. It is a clear, common sense step in the right direction to stand up for students and borrowers. I look forward to voting for this legislation when it comes to the House floor. It's a victory for students and families struggling to pay for college in this economy.”
For more information about the legislation, click here.
Chairman Miller Statement on Subcommittee Passage of Private Student Loan Fairness Legislation
WASHINGTON, D.C. – U.S. Rep. George Miller (D-CA), chairman of the House Education and Labor Committee, today released the following statement after the House Judiciary Committee’s Subcommittee on Commercial and Administrative Law passed H.R. 5043, the Private Student Loan Bankruptcy Fairness Act of 2010 (H.R. 5043). Miller is a cosponsor of the legislation which would allow borrowers to discharge their private student loans in bankruptcy, the same way they can discharge other private debt.“I applaud Congressman Cohen and the other members of the subcommittee for their decisive action to restore fairness and to protect students. This legislation reverses a Republican loophole that protected for-profit lenders and slighted student borrowers. This legislation finally and rightfully puts students’ needs above special interests and lobbyists. It is a clear, common sense step in the right direction to stand up for students and borrowers. I look forward to voting for this legislation when it comes to the House floor. It's a victory for students and families struggling to pay for college in this economy.”
For more information about the legislation, click here.
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