New Cohen Bill Would Help Reduce Teacher Shortages
Legislation is supported by the National Education Association and the American Federation of Teachers
[WASHINGTON, DC] – Congressman Steve Cohen (TN-09) today introduced the Maximizing Opportunity and Retaining Experienced Teachers Act (MORE Teachers Act) to help address teacher shortages and retain qualified, experienced teachers. The legislation, which is supported by both the National Education Association and the American Federation of Teachers, would make teachers who teach in geographic areas with teacher shortages and those who teach an underserved subject matter eligible for up to $17,500 of federal loan forgiveness if they stay in their position for 5 years.
“Over the last 10 years, school budgets have been stretched so thin that teacher salaries can no longer be counted on to cover the skyrocketing student loan debts of newly-graduated teachers,” said Congressman Cohen. “With states reporting more and more subject areas and regions that do not have enough teachers, we need to do everything we can to both incentivize these new graduates to start their careers where they are most needed as well as to retain them as they become more experienced. My MORE Teachers Act will help us accomplish both of those goals and is an important step towards ensuring our students receive the high-quality educations they deserve.”
Current loan forgiveness programs under the Taxpayer-Teacher Protection Act of 2004, a law sponsored by then-Chairman of the House Committee on Education and Workforce John Boehner (OH-08), provide $5,000 of loan forgiveness for Federal Family Education Loan (FFEL) and Federal Direct Loans for most teachers after five years of teaching. STEM teachers and special education teachers can receive up to $17,500 in loan forgiveness after five years. Congressman Cohen’s MORE Teachers Act would simply amend this law to make teachers who are teaching in geographic and subject matter shortage areas eligible for the higher loan forgiveness amount.
Congressman Cohen has a decades-long record of fighting to improve education at all levels. In addition to leading the referendum effort that instituted the Tennessee Education Lottery Scholarship program that is arguably the most successful education initiative in the state’s history, the Congressman also joined U.S. Representatives Mark Takano (CA-41) and Susan Davis (CA-53) earlier today to announce the Protections and Regulations for Our Students Act (PRO Students Act). The PRO Students Act would provide a number of protections to students and taxpayers as well as ensure that for-profit institutions derive at least 15% of their revenue from non-federal student aid.
“We must make sure that for-profit colleges are held accountable both to the students they serve as well as to the taxpayers who keep their businesses afloat,” said Congressman Cohen when introducing the PRO Students Act. “I am proud to join Representatives Takano and Davis on this legislation that will help protect students from bad actors and ensure that taxpayer funds are used appropriately to further students’ educations, not simply to pad investors’ pocketbooks.”
And last week, the U.S. House of Representatives approved an amendment written by Congressman Cohen to H.R. 4984, the Empowering Students Through Enhanced Counseling Act, which would ensure that student loan borrowers are informed of and adequately understand the risks associated with their loans, including those issued by private lenders with excessively high interest rates and fees. Because of an unjustifiable change to the bankruptcy code made in 2005, student loans from private lenders are no longer treated the same as other types of private debt in bankruptcy proceedings, meaning students can be saddled for life with mountains of fees and loan debt that they have no hope of ever paying off. More information about the Congressman’s amendment is available here.
“Most people assume that their student loans can be discharged along with their other consumer debts during bankruptcy proceedings,” said Congressman Cohen upon the House adopting his amendment. “But under current law, a borrower must show that continuing to pay back their loans would impose an ‘undue hardship’ on them and their dependents—a standard that in practice is nearly insurmountable. Before taking on the significant responsibility of student debt, students should be aware that, even if their financial situation becomes so desperate that they are forced to declare bankruptcy, their federal and private student loans may not be dischargeable and could follow them for life.”