Schumer pushes college student debt legislation

Posted at 8:44 AM, Feb 16, 2016
and last updated 2016-02-16 08:58:19-05

Senator Charles Schumer says a new legislative package he's promoting will put America on the path to debt-free college.

Schumer was at the Syracuse University campus on Monday to promote the package, called the RED - Reducing Educational Debt - Act. He said college is a necessity in today's globally connected economy, but it's being priced as a luxury and is breaking the bank for students and families.

Total student loan debt in the United States in now more than 1 trillion dollars.

The RED Act includes proposals to let students refinance debt at a lower interest rates and attend two years of community college tuition-free.

Schumer says 9 million students across the country could benefit if all states participated in the tuition-free community college proposal.