April 06, 2017

ICYMI: Senator Maggie Hassan Introduces First Bill, Would Help Ease Burden of Student Debt for Entrepreneurs

ICYMI: Senator Maggie Hassan Introduces First Bill, Would Help Ease Burden of Student Debt for Entrepreneurs

WASHINGTON - Yesterday, Senator Maggie Hassan introduced her first bill, the Reigniting Opportunity for Innovators (ROI) Act, which will help provide the student loan debt relief necessary for entrepreneurs in the Granite State and across the country to start up and grow innovative businesses.

The ROI Act allows 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.

See below for highlights of coverage and click here for more information on the ROI Act:

Associated Press: Hassan bill would ease student debt burden on entrepreneurs

U.S. Sen. Maggie Hassan is sponsoring legislation aimed at helping ease the student debt burden for young entrepreneurs.

Hassan introduced a bill Wednesday that will allow the founders and full-time employees of some small business startups to have their federal student loan payments and interest accrual deferred for up to three years while launching their business. Those who start businesses in economically distressed areas could be eligible for cancellation of up to $20,000 in student loans after making 24 monthly payments.

..."To keep our economy growing, we must help relieve the student debt burden that is keeping many young entrepreneurs from launching innovative new businesses," she said.

...Mary Collins, the former state director for the New Hampshire Small Business Development Center, said student loans often prevent young people from securing the capital necessary to get a business off the ground. She said Hassan's bill will help entrepreneurs expand their businesses into engines of the economy.

WMUR: Hassan sponsoring bill to help recent graduates with student debt

Click here for WMUR's coverage of the ROI Act

WMUR's Shelley Walcott: Senator Maggie Hassan is sponsoring a bill to help young entrepreneurs pay off student debt. It would allow founders and employees of some small businesses to defer their loan payments and interest for up to three years while launching their business. Hassan says it would help the economy.

Senator Hassan: This is certainly a very targeted bill that really is trying to address the issue of getting more young people to start up businesses and work for start-ups. But we know that there is much more to do in terms of overall higher education affordability.

My Champlain Valley: Student Loan Relief for Entrepreneurs

...On Wednesday New Hampshire Senator Maggie Hassan introduced what is called "re-igniting opportunity for innovators act."

Hassan says to keep the economy growing young innovators must be relieved of debt, so they can launch and grow their business.

The legislation will allow founders and full time employees of small businesses to have their federal student loan payments and interest deferred for up to three years, while launching a start-up.

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