Oct. 3, 2019, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following statement regarding Sen. Josh Hawley’s Skin in the Game Act (S. 2124):
“Alarmingly, nearly one-fourth of federal Direct Loan borrowers were delinquent or in default at the end of last year — in spite of the very low unemployment rate. When federal student loans aren’t repaid, the balances just add to the national debt. Fortunately, taxpayers have someone looking out for their interests; this past summer, Sen. Josh Hawley introduced the Skin in the Game Act. This very simple bill would require colleges that participate in the federal Direct Loan Program to pay half of the remaining loan balances when alums default on their student loans. Colleges have done virtually nothing to rein in out-of-control costs, often do too little to ensure students graduate on time, and offer far too many junk degrees that are not worth the cost — all of which contribute to delinquency and defaults. Perhaps this legislation would encourage colleges to finally begin to take the student debt crisis seriously.”
Interview Availability: Please contact Americans for Limited Government at 703-383-0880 ext. 1 or at media@limitgov.org.
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