Florida Sen. Marco Rubio has a plan to solve one of student debt's most pressing issues.
In conjunction with Sen. Mark Warner (D-Va.), Rubio has introduced a bipartisan bill into the Senate to help solve America's current student loan crisis. The Dynamic Repayment Act would ensure students face reasonable monthly payments and eliminate most defaults.
The bill would enroll all federal loan borrowers into a program where they paid 10 percent of earnings each month toward student loan repayment, with a $10,000 annual exemption. The U.S. government would take the money directly from workers' paychecks. Borrowers would also have the option to opt out and prepay their loans without penalty, if they preferred.
Additionally, the bill would forgive up to $57,500 of loans after 20 years, and loans greater than that amount would be forgiven after 30 years.
Marco Rubio introduces bipartisan student loan bill - The Week
This, of course, will go nowhere in the House, because GOP. But kudos to Rubio and Warner for trying to do something to address this,
But as we know, everthing Rubio touches seems to turn to ****.