(Washington, DC) – Today, Congresswoman Annie Kuster (NH-02) helped introduce legislation to assist students in New Hampshire and across the country refinance their loans at lower rates. Kuster is an original co-sponsor of the Bank on Students Emergency Loan Refinancing Act, led by Congressman Joe Courtney (CT-2) and United States Senator Elizabeth Warren (D-MA). Last year, a report found that New Hampshire had the highest student loan debt in the country on average, at $36,101.
“Student loan debt is a huge burden that not only makes life difficult for young borrowers but hurts our economy,” said Congresswoman Kuster. “Our students in New Hampshire are facing the highest average debt load in the country and we need to provide relief. The money our young people are spending paying off student loan debt could be going toward starting a new business or buying a home. It’s common sense that students should be able to refinance their student loans at lower rates currently offered to new borrowers. I’ll continue to work with my colleagues to lower the costs of higher education and create opportunities for young people to get the education or training they need without being saddled with large sums of debt.”
Congresswoman Kuster has been a strong advocate in promoting college affordability during her time in Congress. She has supported the Perkins Loan Program and funding for Pell Grants through her role as a member of the Higher Education Caucus. During the 114th Congress she cosponsored the Student Loan Repayment Assistance Act to incentivize employer development of student loan repayment assistance plans. Kuster has also worked to expand access to community college and job training programs for Granite Staters.