Rep. Dean’s Student Loan Relief Proposal and More Direct Payments Included in House Democrats $3.3 Trillion Relief Bill
WASHINGTON D.C. — Today, House Democrats introduced the Heroes Act, a comprehensive $3.3 trillion relief bill to address the challenges posed by the coronavirus pandemic. For the duration of this economic crisis, Rep. Dean has advocated for relief for everyday workers, the smallest businesses, and student borrowers — the Heroes Act reflects these priorities.
The Heroes Act incorporates Rep. Dean’s Emergency Assistance for Student Borrowers Act of 2020 by providing up to $10,000 in debt relief to be applied to federal and private student loans. The debt relief, unless otherwise requested by the borrower, will be applied toward the loan with the highest interest rate. This debt relief will lend a needed hand to student borrowers struggling to remain solvent during this difficult time.
“I speak with constituents everyday about the hardships they are facing during this pandemic — more direct cash payments and relief for private and federal student loan borrowers will make a huge difference,” Rep. Dean said. “I am hopeful my colleagues in the Senate swiftly pass the Heroes Act to lift all people struggling."
Additionally, The Heroes Act provides direct cash payments, similar to the Economic Impact Payments in the CARES Act.
The payments include:
$1,200 for a single taxpayer
$2,400 for joint filers
An additional $1,200 per dependent up to a maximum of 3 dependents
Rep. Dean also advocated to expand payments to dependents over the age of 17. In the initial direct payment, only dependents below age 17 were eligible for the $500. The HEROES Act however, expands eligibility to include full-time students below age 24 and adult dependents would also receive the additional $1,200.
Rep. Dean also supports other measures in the bill including roughly $500 billion for states and $375 billion for local governments, expansion of SNAP benefits, Postal Service support, and more. For more information on the Heroes Act click here.
Rep. Madeleine Dean is a mother, grandmother, attorney, professor, former four-term member of the Pennsylvania House of Representatives, and U.S. Representative for the Fourth District of Pennsylvania.