Rep. Pocan introduces second student loans bill - WQOW TV: Eau Claire, WI NEWS18 News, Weather, and Sports

Rep. Pocan introduces second student loans bill

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 MADISON (WKOW) -- Representative Mark Pocan introduces his second bill to lessen the burden on people with student loans.

Known as the Relief for Underwater Student Borrowers Act, Pocan's bill expands on the pay as you earn program, and would allow people who have been repaying their loans on time to have the remaining balance forgiven, tax-free after 20 years, no matter their profession.

Rep. Pocan (D) says, "We need to address this in every possible way, not only with refinancing student loan rates, not only on lowering rates, but also making sure we're dealing with people who are underwater on their loans."

Pocan's bill would apply to the one-point-five million people enrolled in the income based repayment program and the pay as you earn program.

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