At Alpha Loft in Manchester, Senator Hassan Highlights Reigniting Opportunity for Innovators (ROI) Act and Importance of Supporting Entrepreneurs
"Ensuring that our entrepreneurs have the support they need to turn their ideas into innovative, job-creating businesses is integral to the growth of our economy, and Alpha Loft is critical to those efforts, providing the guidance and tools necessary to help entrepreneurs build and grow their businesses," Senator Hassan said. "My first bill, the Reigniting Opportunity for Innovators Act, will support the important work of Alpha Loft by reducing the burden of student loan debt that is keeping many entrepreneurs from launching their innovative small businesses. I look forward to continue working with Alpha Loft and business leaders across the state to help the next generation of entrepreneurs thrive."
"Senator Hassan's ROI Act is critical for entrepreneurs to be able to hire new staff and grow innovative businesses," said Angela Addison and Stephanie Sisson, Co-founders of Ohana Logic. "By allowing entrepreneurs and their staff to defer their student loans, the ROI Act would incentivize young people to enter the entrepreneurship field and give them the financial freedom necessary to be able to work for a start-up. As the co-founders of a start-up aimed at helping students with learning disabilities pursue higher education, we support the ROI Act and hope that other members in the Senate will sign on without delay."
The ROI Act will allow founders and full-time employees of small business start-ups certified by Small Business Development Centers to have their federal student loan payments and interest accrual deferred for up to three years while launching a start-up. If the start-up is located in an economically distressed area, founders and employees who make twenty-four monthly payments will also be eligible for cancellation of up to $20,000 in student loans.
Senator Hassan has long made promoting entrepreneurship and supporting innovative businesses a top priority. During her time as Governor, she laid out and implemented her Innovate NH plan - including working to hold down the cost of higher education, increasing and making permanent the R&D tax credit, and launching the award-winning Live Free and Start initiative. As a member of the Senate Committee on Commerce, Science and Transportation, Senator Hassan has continued this focus on fostering innovation and entrepreneurship, supporting measures to promote women entrepreneurs, increase participation in the STEM fields, and expand access to broadband.