Rubio-backed Student Loan Bill Heads to President's Desk

U.S. Senator Marco Rubio (R-FL) applauded the House passage of the Joint Consolidation Loan Separation Act of 2021. The legislation, which he reintroduced with Senator Mark Warner (D-VA) in April 2021, will provide much-needed relief for individuals who previously consolidated their student loan debt with their former spouse. The bill previously passed the Senate in June and now heads President Joe Biden’s desk.

-“Survivors of domestic violence should never have to pay the debts of their abuser. This bill will provide financial independence to survivors that desperately need it. I urge President Biden to quickly sign this bill into law so we can deliver relief to these individuals.” – Senator Rubio

Background… While Congress eliminated the joint consolidation loans program in 2006, it did not provide a way for borrowers to sever existing loans, even in the event of domestic violence, economic abuse, or unresponsiveness from a former partner. The bill would fix this oversight, which has unfortunately left too many borrowers liable for their former spouse’s student loan debt. 
 
Want more? Read the one-pager here. Read the bill text here.