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    Comp 2 Essay 3 Final Draft

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    The student is writing to Representative Lucas to ask him to support bill H.R. 1043, which would allow employers to help employees pay down student loans tax-free. The student notes that the national student loan debt is over $1.56 trillion and growing each year, burdening both individuals and the country. Some employers already offer student loan repayment assistance to attract and retain employees. The bill would encourage more companies to adopt such programs. Reducing individual loan amounts would in turn help shrink the national student loan debt crisis.

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    Comp 2 Essay 3 Final Draft

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    The student is writing to Representative Lucas to ask him to support bill H.R. 1043, which would allow employers to help employees pay down student loans tax-free. The student notes that the national student loan debt is over $1.56 trillion and growing each year, burdening both individuals and the country. Some employers already offer student loan repayment assistance to attract and retain employees. The bill would encourage more companies to adopt such programs. Reducing individual loan amounts would in turn help shrink the national student loan debt crisis.

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    The student is writing to Representative Lucas to ask him to support bill H.R. 1043, which would allow employers to help employees pay down student loans tax-free. The student notes that the national student loan debt is over $1.56 trillion and growing each year, burdening both individuals and the country. Some employers already offer student loan repayment assistance to attract and retain employees. The bill would encourage more companies to adopt such programs. Reducing individual loan amounts would in turn help shrink the national student loan debt crisis.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    108 views3 pages

    Comp 2 Essay 3 Final Draft

    Uploaded by

    api-456301481
    The student is writing to Representative Lucas to ask him to support bill H.R. 1043, which would allow employers to help employees pay down student loans tax-free. The student notes that the national student loan debt is over $1.56 trillion and growing each year, burdening both individuals and the country. Some employers already offer student loan repayment assistance to attract and retain employees. The bill would encourage more companies to adopt such programs. Reducing individual loan amounts would in turn help shrink the national student loan debt crisis.

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    of 3

    March 28, 2019

    The Honorable Frank Lucas


    2405 Rayburn House Office Building
    United States House of Representatives
    Washington, DC 20515

    Dear Representative Lucas,

    I am currently a high school concurrent student. Next semester I will be attending classes at
    Oklahoma State University. I hope to earn a bachelor’s degree and then complete an accredited
    physician’s assistant (PA) program. One of my biggest concerns going into college is the cost. I
    am fortunate to receive federal aid, but I will have to take out student loans for PA school.
    Because I will eventually contribute to the national student loan debt, I have become concerned
    with how large it is and, I believe one solution could be H.R.1043 - Employer Participation in
    Repayment Act of 2019.

    The national student loan debt will only keep growing if a solution is not found soon. Currently,
    the US national debt is more than 22 trillion dollars. According to the article “A Look at the
    Shocking Student Loan Debt Statistics for 2019,” the national student loan debt is over 1.56
    trillion dollars. This means roughly 7.1 percent of the total national debt is from student loans.
    Statistics from the publication “A New Benefit: Some Companies Help Workers Pay Down
    Student Loans,” show student loan debt has consistently raised each year. In the year 2006 the
    national student loan debt was around 0.5 trillion compared to 2018 in which it was 1.56 trillion.
    The average college student in 2016 had a student loan debt average of $37,172. If we find a way
    to lower the individual amount of student loans a person owes, the student loan debt overall will
    decrease as will the US national debt.

    One solution former students are using to combat the burden of student loans, is by working for
    companies that help pay off student loans. This method of paying student loans is not very
    popular, but it is effective. Companies also use this to attract the attention of job seekers and they
    have found those who enroll in the repayment method usually stay longer at the company. For
    example, the CEO of Fidelity Investments says, out of all its employees, the ones who partake in
    it are the ones who remain at the company much longer.

    This method of paying back student loans is one I might use. PA school is very expense, but one
    advantage of the profession is there are many clinics and hospitals that have programs like
    Fidelity Investments. They will help pay for PA school if the student works for them for a certain
    amount of time. I know many other professions have programs like this, but I believe the
    national student loan debt would be greatly impacted if they were universally spread across all
    professions.

    Today I ask that you support H.R.1043 - Employer Participation in Repayment Act of 2019. I ask
    that you advocate for this bill. This bill could help shrink the national student loan debt. Passing
    this bill also encourages employers to use this service because companies would be able to help
    employees with their student loans tax free. I believe that supporting this bill could cause the
    national student loan debt to decrease.

    Sincerely,

    Donovan Njerenga Ndwiga

    Contact Information
    Email: [email protected]
    Cell Phone: (405) 269-8291
    Works Cited
    Chappell, Bill. “U.S. National Debt Hits Record $22 Trillion.” NPR, NPR, 13 Feb. 2019,
    www.npr.org/2019/02/13/694199256/u-s-national-debt-hits-22-trillion-a-new-record-
    thats-predicted-to-fall.

    Friedman, Zack. “Student Loan Debt Statistics In 2018: A $1.5 Trillion Crisis.” Forbes, Forbes
    Magazine, 26 Oct. 2018, www.forbes.com/sites/zackfriedman/2018/06/13/student-loan-
    debt-statistics-2018/#31a0902c7310.

    Noguchi, Yuki. “A New Benefit: Some Companies Help Workers Pay Down Student
    Loans.” NPR, NPR, 25 Feb. 2019, www.npr.org/2019/02/25/696355143/come-work-for-
    us-well-help-pay-down-your-student-loans.

    Smith, Kelly Anne. “Bill Would Encourage Employers To Pay Down Student Loan
    Debt.” Bankrate, Bankrate.com, 11 Feb. 2019, www.bankrate.com/loans/student-
    loans/employer-incentives-repay-student-debt/.

    “U.S. Student Loan Debt Statistics for 2019.” Student Loan Hero, 4 Feb. 2019,
    studentloanhero.com/student-loan-debt-statistics/.

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