Texas Senator John Cornyn (R) along with Senate Committee on Health, Education, Labor and Pensions Ranking Member Bill Cassidy introduced the Streamlining Accountability and Value in Education (SAVE) for Students Act.
“Too many young Americans are saddled with student debt for college degrees that don't increase their earning potential. Today I joined my colleagues to discuss my bill to protect students and increase accountability,” tweeted Rep. Cornyn.
Too many young Americans are saddled with student debt for college degrees that don't increase their earning potential.
Today I joined my colleagues to discuss my bill to protect students and increase accountability.
https://t.co/quEckdAlYk— Senator John Cornyn (@JohnCornyn) June 14, 2023
“My bill, the SAVE for Students Act, will: Streamline the loan repayment system, Prohibit federal loans from paying for degree programs that fail to increase the earning potential of graduates, Save taxpayers nearly $50 billion”
My bill, the SAVE for Students Act, will:
✅Streamline the loan repayment system
✅Prohibit federal loans from paying for degree programs that fail to increase the earning potential of graduates
✅Save taxpayers nearly $50 billion— Senator John Cornyn (@JohnCornyn) June 14, 2023
The bill would make the student loan repayment process simpler. The bill’s sponsors believe that the simple process would “increase accountability on behalf of the federal government”, “ensure new federal student loans are paying for degrees that actually produce higher incomes for graduates” and “save taxpayers nearly $50 billion”.
Sen. Cornyn stated his belief that the loans students receive should correlate with their perspective jobs.
“Student loan repayment should not fall on the backs of hardworking American taxpayers, and students should not be getting federal loans for degrees that don’t result in better-paying jobs,” said Sen. Cornyn.
The Texas representative criticized the student loan system which has millions of users who have borrowed money from the government.
“I’m proud to join my colleagues in supporting this legislation to streamline this confusing system, save students money, and ensure higher education is accessible to Americans without an out-of-touch loan cancellation scheme.”
“Our federal higher education financing system contributes more to the problem than the solution,” said Dr. Cassidy.
The statement was very critical of President Biden’s (D) plan to forgive the student loan debt for many qualifying Americans.
“Unlike President Biden’s student loan schemes, this plan addresses the root causes of the student debt crisis. It puts downward pressure on tuition and empowers students to make the educational decisions that put them on track to academically and financially succeed.”
The bill was part of a larger “package of five bills aimed at directly addressing the issues driving the skyrocketing cost of higher education and the increasing amounts of debt students take on to attend school.”
This legislation is part of the Lowering Education Costs and Debt Act, a package of five bills proposed by Senate Republicans aimed at directly addressing the issues driving the skyrocketing cost of higher education and the increasing amounts of debt students take on to attend school.
Amid a property tax dispute between Texas Governor Greg Abbott (R) and Lieutenant Governor Dan Patrick (R), Texas Representative Vicente Gonzalez (D) recently asked the Governor to suspend payments on property taxes.
“The astronomical rise in property taxes is hurting the livelihoods of South Texans. @GovAbbott you have the power to freeze property taxes and help those who need it the most,” said Rep. Gonzalez.
