US Representative Craig Drafting Bill To Cancel Private Student Loans In The Event Of Student Death | Apple valley
Legislation is inspired by the Eagan family
U.S. Representative Angie Craig, DFL-Eagan, introduced the Ryan Frascone Memorial Student Loan Relief Act of 2021, which would fill a loophole in federal law to retroactively discharge all co-signers of all private student loans upon the death of a student.
In 2018, the law was changed to free bereaved parents from deceased student loans – but the change was not retroactive, forcing many families to continue paying.
Craig is reintroducing this bill on behalf of Eagan’s Mark and Julie Frascone who tragically lost their son, Ryan, to an opioid overdose in May 2013. More than eight years after Ryan’s death, Mark and Julie write still monthly checks to pay off Ryan’s student loans. .
While there are some protections in the law for families with private and public student loans in place as of 2018, some families with private loans still pay monthly and according to the compassion of the student loan manager for the cancellation of the loan. ready.
âLosing a child is one of the worst things that can happen to a parent – an unimaginable tragedy,â Craig said. âThe last thing any bereaved parent should go through is a monthly reminder of their loss in the form of a student loan repayment. It is high time that we repair this glaring oversight and bring some relief to these grieving families. I am proud to present this common sense legislation in memory of Ryan and eternally grateful to Mark and Julie for sharing their story and working with me to ensure Congress removes this insane burden on the surviving members of the family across the country.
“We are very proud and honored that our dear son Ryan is remembered in this way,” Mark and Julie Frascone wrote in a statement.
Craig first introduced this legislation to the 116th Congress.