This bill would allow victims of terrorist attacks to suspend payments on their federal student loans for a year.
There is a bill that was reintroduced earlier this month aimed at victims of terrorist attacks. Sen. Marco Rubio (R-Florida), brings to light a proposal that previously gets shut down last congress. This bill would allow victims of terrorist attacks to suspend payments on their federal student loans for a year.
Depending on what type of federal student loan you have you may be protected from accruing interest during that year-long period. The proposal would apply an extra year to the three years of deferment that borrowers are already entitled to. The proposal also only applies to a small group. However, 35,000 people who were injured in terrorist attacks in 2015 worldwide, per the State Department.
“What are we going to do have every possible circumstance have its own separate deferment and forbearance?” said Mark Kantrowitz, the publisher of Cappex.com, a college and scholarship search site. “There’s an incredibly long potential list of things that could have this sort of treatment.”
The move by Rubio seems to be politically motivated. These proposals are appealing to lawmakers since they don’t have high costs so they are less likely to be rejected. All the while you’re able to act on behalf of your constituents. No one will argue that these people are experiencing a tragic hardship but there are already deferment opportunities in place as well as forbearances. The student loan industry is a complex system. Some may argue to simplify, however, certainly these people experiencing tragic terrorist attacks should receive the help they need.
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