Washington – Rep. Don Bacon (NE-02) announced he will be cosponsoring H.R. 4144, the Federal Assistance to Initiate Repayment (FAIR) Act, introduced by Reps. Burgess Owens (UT-04), Lisa McClain (MI-09), and Virginia Foxx (NC-05) in the Committee on Education & the Workforce.

The FAIR Act, a Republican solution to fix our broken student loan system, will simplify the repayment process, end ballooning loan balances, provides repayment assistance, and provides targeted student loan relief.

“This fiscally responsible alternative to President Biden’s plan will be a critical step towards fixing our student loan system and will provide a path for 40 million borrowers to pay back their loans,” said Bacon. “I do not support forcing the 83 percent (or four out of five Americans) of Americans who don’t have student loan debt form carrying the burden of those who do.”

“However, we can work to help those borrowers pay back their loans as they indicated they would when signing the documents,” added Bacon. “We can look at making interest rates more competitive, and building payment plans for those who have fallen behind.  I also think we can promote alternatives to four-year degrees such as trade schools or earning free college by serving in our all-volunteer military. I earned two degrees during my 3 decades in the Air Force.”