{"id":21895,"date":"2025-04-01T14:59:16","date_gmt":"2025-04-01T18:59:16","guid":{"rendered":"https:\/\/www.merkley.senate.gov\/?p=21895"},"modified":"2026-04-21T14:20:52","modified_gmt":"2026-04-21T18:20:52","slug":"merkley-kaine-launch-effort-to-protect-and-strengthen-federal-student-loan-repayment-options","status":"publish","type":"post","link":"https:\/\/www.merkley.senate.gov\/es\/merkley-kaine-launch-effort-to-protect-and-strengthen-federal-student-loan-repayment-options\/","title":{"rendered":"Merkley, Kaine Launch Effort to\u00a0Protect\u00a0and\u00a0Strengthen Federal Student Loan Repayment Options"},"content":{"rendered":"<p>Washington, D.C. \u2013 With affordable student loan repayment options at risk under the Trump Administration, Oregon\u2019s U.S. Senator Jeff Merkley and Virginia\u2019s U.S. Senator Tim Kaine today led their colleagues to launch a new effort to protect and expand federal student loan repayment programs.&nbsp;<\/p>\n\n\n\n<p>El&nbsp;<em>Savings Opportunity and Affordable Repayment (SOAR) Act<\/em>&nbsp;creates a new income-driven repayment (IDR) plan\u2014which links payments to a borrower\u2019s income and family size\u2014to better protect borrowers from unaffordable payments, runaway balances due to rapidly accruing interest, and offer a clearer path to debt relief after at least a decade of payments.&nbsp;The&nbsp;<em>SOAR Act<\/em> codifies, expands, and strengthens the Saving on a Valuable Education (SAVE) Plan that President Biden introduced to help student loan borrowers nationwide&nbsp;in 2023.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cAs the first in my family to go to college, I know the barriers that too many students face in accessing higher education,\u201d&nbsp;<strong>dijo Merkley.<\/strong>&nbsp;\u201cIncome-driven&nbsp;repayment programs are an essential tool to address America\u2019s student debt crisis. As Republicans threaten to raze the SAVE Plan and other affordable repayment options for students, we need to fight back by ensuring students have a much-needed path to loan forgiveness, now and in the future.\u201d<\/p>\n<\/blockquote>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cStudent loan debt is holding Virginians and our economy back,\u201d <strong>dijo Kaine. <\/strong>\u201cBiden\u2019s Saving on a Valuable Education (SAVE) Plan was designed to help address that issue by making the burden of student loan repayment easier for borrowers. Especially in the face of President Trump\u2019s attempt to threaten repayment options, I\u2019m proud to introduce the <em>SOAR Act<\/em>, legislation that would codify, expand, and strengthen the SAVE Plan to help student borrowers design a monthly student loan repayment plan that works for them.\u201d<\/p>\n<\/blockquote>\n\n\n\n<p>The Trump Administration is&nbsp;expected&nbsp;to abandon the SAVE plan and its affordable payments in the face of ongoing&nbsp;Republican-backed legal challenges to the plan, and Congressional Republicans are openly discussing their&nbsp;plans to eliminate it as part of their reconciliation budget bill. Permanently dismantling this program would have disastrous implications for the&nbsp;8&nbsp;million&nbsp;Americans already enrolled in&nbsp;SAVE&nbsp;plans with income-driven repayment and the millions more that need more affordable repayment options.<\/p>\n\n\n\n<p>Merkley and Kaine\u2019s&nbsp;<em>SOAR Act&nbsp;<\/em>is endorsed by the American Federation of Teachers (AFT), National Education Association (NEA), The Institute of College Access &amp; Success (TICAS), Student Borrower Protection Center, National Consumer Law Center (on behalf of its low-income clients), American Federation of State, County, and Municipal Employees (AFSCME), Center for Law and Social Policy (CLASP), Consumer Action, National Urban League, Student Debt Crisis Center, The Education Trust, UnidosUS, and Young Invincibles.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cIncome-driven repayment plans give millions of borrowers the right to pursue a life and career free from the shackles of onerous student debt. And they are the only way for public service workers to benefit from Public Service Loan Forgiveness\u2014a critical lifeline for teachers, nurses, first responders and countless others. While the new administration and its pliant allies in Congress seem intent on stripping away these options and making life harder for working people, Sens. Jeff Merkley and Tim Kaine are introducing the Savings Opportunity and Affordable Repayment Act to ease the squeeze. The AFT won\u2019t rest until we make college more accessible and affordable, and we urge Congress to pass the&nbsp;<em>SOAR Act<\/em>&nbsp;as an important step toward that goal,\u201d&nbsp;<strong>said&nbsp;AFT President Randi Weingarten.<\/strong><\/p>\n<\/blockquote>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cNowadays, most students from working and middle-class families must take out federal student loans to pay for college or job training. After leaving school, they need an affordable and reliable pathway to pay their loans and become debt-free; otherwise, loans taken out to open doors can instead become financial traps. The&nbsp;<em>SOAR&nbsp;Act<\/em>&nbsp;addresses this need by strengthening and codifying the SAVE Plan, and thus delivering the most affordable payment plan and making good on the promise that everyone who must borrow to access education has a path to become debt-free,\u201d&nbsp;<strong>said Abby Shafroth, Co-Director of Advocacy at the National Consumer Law Center (on behalf of its low-income clients).<\/strong><\/p>\n<\/blockquote>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cNEA applauds Senators Merkley and Kaine for introducing the&nbsp;<em>SOAR Act<\/em>, a bill designed to create an affordable and accessible federal student loan repayment pathway.&nbsp; As an income-driven repayment (IDR) plan, SOAR will work in tandem with Public Service Loan Forgiveness (PSLF).&nbsp; This will strengthen the educator pipeline and other careers that lead to public sector jobs that provide essential services for every community, especially in rural and underserved areas,\u201d&nbsp;<strong>said Marc Egan, Director of Government Relations at the National Education Association (NEA).<\/strong><\/p>\n<\/blockquote>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWith right wing litigants taking aim at the SAVE plan and now Congressional Republicans looking to gut the student loan safety net and eliminate Income-Driven Repayment through reconciliation, the&nbsp;<em>SOAR&nbsp;Act<\/em>&nbsp;will codify and strengthen critical protections that borrowers rely on to access more affordable monthly payments and eventual relief. Under the&nbsp;SOAR&nbsp;Plan all borrowers will be are able to benefit from affordable monthly payments \u2014including Parent PLUS borrowers\u2014and have access to a more expedited timeline for relief,\u201d&nbsp;<strong>said Aissa Canchola Banez, Policy Director at the Student Borrower Protection Center.<\/strong>&nbsp;\u201cWe applaud Senators Merkley and Kaine for standing up for borrowers and strengthening desperately needed protections.\u201d<\/p>\n<\/blockquote>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWe strongly support the&nbsp;<em>SOAR Act<\/em>, which would improve the federal student loan repayment system to better protect millions of borrowers across the country. This timely, common-sense bill would provide access to affordable payment options and ensure borrowers are not stuck in debt for a lifetime,\u201d&nbsp;<strong>said Michele Zampini, Senior Director of College Affordability at The Institute for College Access &amp; Success (TICAS).<\/strong><\/p>\n<\/blockquote>\n\n\n\n<p>In addition to Merkley and Kaine, the&nbsp;<em>SOAR Act&nbsp;<\/em>is cosponsored by Senate Democratic Leader Chuck Schumer (D-NY) and Senators Mazie Hirono (D-HI), Richard Blumenthal (D-CT), Elizabeth Warren (D-MA), Peter Welch (D-VT), Kirsten Gillibrand (D-NY), Alex Padilla (D-CA), Cory Booker (D-NJ), Tina Smith (D-MN), Bernie Sanders (I-VT), Ron Wyden (D-OR),&nbsp;Andy Kim (D-NJ), and Edward J. Markey (D-MA).<\/p>\n\n\n\n<p>Texto completo de la\u00a0<em>SOAR Act<\/em>\u00a0Se puede encontrar haciendo clic\u00a0<a href=\"https:\/\/www.merkley.senate.gov\/wp-content\/uploads\/SOAR-Act.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">aqu\u00ed<\/a>.<\/p>\n\n\n\n<p>A\u00a0one-pager\u00a0on the\u00a0<em>SOAR Act<\/em>\u00a0Se puede encontrar haciendo clic\u00a0<a href=\"https:\/\/www.merkley.senate.gov\/wp-content\/uploads\/Savings-Opportunity-and-Affordable-Repayment-Plan-One-Pager-Final.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">aqu\u00ed<\/a>.<\/p>\n\n\n\n<p class=\"has-text-align-center\">###<\/p>","protected":false},"excerpt":{"rendered":"<p>Washington, D.C. \u2013 With affordable student loan repayment options at risk under the Trump Administration, Oregon\u2019s U.S. Senator Jeff Merkley and Virginia\u2019s U.S. Senator Tim Kaine today led their colleagues to launch a new effort to protect and expand federal student loan repayment programs.&nbsp; The&nbsp;Savings Opportunity and Affordable Repayment (SOAR) Act&nbsp;creates a new income-driven repayment [&hellip;]<\/p>\n","protected":false},"author":16,"featured_media":18848,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[24],"tags":[40,129],"class_list":["post-21895","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-releases","tag-education","tag-protecting-consumers"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - 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