Senator Alexander proposes help for student loan borrowers

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(WATE) – If you have student loans, you could be getting more help soon.

Senator Lamar Alexander proposed if you don’t have any income right now, you should not have a monthly payment.

Back in March, Congress approved a bill deferring student loan payments until Oct. 1 because of the coronavirus pandemic.

Senator Alexander says that those who don’t have any income should be able to continue deferring after that date.

He also says that when they do start generating income, their monthly payment should never be more than 10% of their income, after deducting necessary costs like housing and food.

It’s estimated that 43 million Americans have student loan debt.

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