From Sen. Mark Warner’s office:
BIDEN SIGNS WARNER-AUTHORED LEGISLATION TO PROVIDE RELIEF TO AMERICANS TRAPPED IN JOINT STUDENT LOANS
~ First inspired by struggling single mom in Virginia, the Joint Consolidation Loan Separation Act now law ~
WASHINGTON – President Biden has signed legislation from U.S. Sen. Mark R. Warner (D-VA) to provide much-needed relief for individuals who previously consolidated their student loan debt with a spouse. Now law, the Joint Consolidation Loan S
Although Congress eliminated the consolidation program on July 1, 2006, it did not provide a means of severing existing loans, even in the event of domestic violence, economic abuse, or an unresponsive partner. As a result, there are borrowers across the country who remain liable for their abusive or uncommunicative spouse’s portion of their consolidated debts. Borrowers trapped in these loans are also unable to access federal relief, including the Public Service Loan Forgiveness (PSLF) Program. This legislation provides relief to these individuals by allowing borrowers to split this debt and apply for forgiveness benefits.
“I’m thrilled that borrowers who have been ensnared in these exploitative loans for decades will finally get relief,” said Sen. Warner. “Passing this law means freedom for thousands of borrowers – freedom from financial and domestic abuse, freedom to control their own financial future, and freedom to enjoy the same benefits as other borrowers across the country.”
The Joint Consolidation Loan S
Sen. Warner introduced the original version of the Joint Consolidation Loan S
Because joint consolidation
A full media package, including broadcast-quality audio and video of Sen. Warner speaking with Virginians who will benefit from the new law and the testimonials of other impacted borrowers is available here. Broadcast-quality audio and video of Sen. Warner explaining the issue, making a statement on passage, and speaking about this issue on the floor of the Senate is available here.
…The Joint Consolidation Loan S