Washington, D.C. – Today, on the 50th anniversary of the Pell Grant program, U.S. Senator Catherine Cortez Masto (D-Nev.) introduced the Student Loan Relief and College Affordability Act to reform the Pell Grant and federal student loan system so that more Nevadans can access higher education without burdensome debt. Cortez Masto’s legislation increases the amount of Pell Grants students can receive and targets student loan forgiveness to the low- and moderate-income Americans who will most benefit from this relief. The legislation also reforms the federal student loan system by simplifying repayment plans and ending interest capitalization.
“All Nevadans deserve a chance to pursue higher education, and with a responsible and commonsense approach that provides immediate relief to struggling borrowers, increases Pell Grants, and reforms the system for future borrowers, we can once again make college affordable for all Nevadans,” said Senator Cortez Masto.
The Student Loan Relief and College Affordability Act would: