ANIMAS HIGH SCHOOL MODEL SENATE

Committee: College Debt Committee

Principal Authors:
Richard Burr (Grant Gibson) and
Susan Collins (Camryn Sippy)

Bill No: 2-687

Submission Date: 11/11/2016

Title of Bill: Student Loan Act

BE IT ENACTED BY THE ANIMAS HIGH SCHOOL MODEL CONGRESS
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Preamble: Whereas Americans owe nearly 1.3 trillion dollars in student loan debt, and since
65% of high debt student loan borrowers didnt understand the terms of their loan, and since
71% of students that graduate from a 4 year college have student loan debt, and since most
borrowers are still paying back their loans in their 30s, and since in 21 years the average
college tuition will cost the average family income,
SECTION 1: Reduce the amount of high debt student loan borrowers due to not
understanding loans by-Sub-SECTION A: Educating students during junior/senior year of high school
about student loans and the college debt crisis.
Sub-SECTION B: If schools do not implement and enforce this they will have
federal funding withdrawn.
SECTION 2: Students entering college planning to take out loans must attend informative
sessions by-Sub-SECTION A: College students taking out/planning to take out loans are
required to attend an informational seminar/workshop every year.
SECTION 3: Income driven payment to ensure that borrowers are repaying what they are
able to by-Sub-SECTION A: Determine the amount of money that you pay, based on the
amount of graduate income the individual makes.
Sub-SECTION B: After 20-25 years your remaining balance will be forgiven,
but the individual will have to pay federal taxes on the remaining amount.
SECTION 4: Make all loans subsidized loans by-Sub-SECTION A: Subsidized loans are when the government pays your interest
while you are in school.
Sub-SECTION B: Full time students taking 10 or more credits at a time will get
100% subsidized loans.

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Sub-SECTION C: Part time students taking less than 10 credits will still have
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unsubsidized loans.
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Sub-SECTION D: Students that are unemployed and searching for job may
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apply for 100% subsidized loans.
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Sub-SECTION E: Federal taxes will raise 1% to make subsidized loans
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possible.
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43 SECTION 5: This bill shall go into effect 280 days after passage.
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