Deferment of Student Loan Payments

Great news!

The Deferment for Active Cancer Treatment Act has been signed into law by President Trump!

This  bill will enable college students being treated for cancer to defer payments without penalties or interest on student loans!

“A special thanks to the bi-partisan leadership of Representatives Ileana Ros-Lehtinen (R-FL), Ed Perlmutter (D-CO), Tom Cole (R-OK), and Betty McCollum (D-MN) and Critical Mass, the Young Adult Alliance.

After HR 2976 was moved into the House Appropriations Bill (HR 6470) and passed in the LHHS  committee. Senator Bill Nelson [D-FL]  introduced S. 3207 Deferment for Active Cancer Treatment Act. Senator  Marco Rubio, [R-FL] and Senator Amy Klobuchar [D-MN] cosponsored the Act which is a bipartisan bill that would amend the Higher Education Act of 1965 to allow for the deferment of certain student loan payments without interest during a period in which a borrower is receiving treatment for cancer.    Text

This is a commonsense solution that provides adolescents and young adults with a small amount of financial relief while they take time off from work or school typically without pay to receive cancer care, adding to the 11.2% national delinquency rate on student loans.

Once treatment is over, these young Americans can get back on their feet faster; returning to work or school with the expectation of being a contributing member of society. The Deferment for Active Cancer Treatment Act will enable individuals who are diagnosed with cancer to defer payments on public student loans while actively receiving treatment without interest accruing during the deferment period. This bill does not seek to change the terms of the public loan agreement between lender and borrower beyond placing a pause in repayments while cancer treatment is underway.

Kate Houghton heads a group called Critical Mass, The Young Adult Cancer Alliance, which provides resources for young adults with cancer. She is a Florida International University alumna and former Capitol Hill staffer who was diagnosed with cancer in her mid-20s. She is a champion of the bill and her organization, Critical Mass is providing support to help pass this most needed legislation for our young adults.

CLICK HERE to call or tweet the Senators who are members of the HELP committee.  Those listed in red are up for re-election in November 2018.

Write a letter  to your Senator and ask them to cosponsor S. 3207 Deferment for Active Cancer Treatment Act. We have made it very easy to send a letter.  CLICK HERE to send your letter today.

If you would like to print a  one page summary pass-out for use in explaining  and promoting passage of this bill, CLICK HERE.

Cosponsors- 2 (1D, 1R)
Rubio, Marco [R-FL] (joined Jul 18, 2018)
Klobuchar, Amy [D-MN] (joined Jul 23, 2018)