Washington Report

Advocacy Updates from Washington D.C.

NAR Supports Student Loan Relief

On May 25, 2016, NAR issued 6 letters of support for various legislative proposals aimed at addressing the issue of student loan debt. New research has raised concerns about student loan debt and its impact on homeownership and the overall economy. Based on the problems associated with student loan debt, NAR believes that monthly student loan payments and overall student debt is weighing heavily on prospective first-time homebuyers. As a result, NAR passed new policy at the 2016 REALTORS(R) Legislative Meetings and Trade Expo, which reads: "NAR should strongly support policy proposals to allow student loan borrowers to refinance into lower interest rates and to streamline income-based repayment programs. Additionally, NAR supports policy proposals that promote student loan simplification, clarity and education. NAR also shall ensure that mortgage underwriting guidelines related to student loan debt are standardized and do not impair homeownership."

Read NAR's student loan debt letters to Congress:

H.R. 4652, the “Clarity in Lending For Education and Repayment Act” (Rep. Takai (D-HI))

H.R. 1434, the “Bank on Students Emergency Loan Refinancing Act” (Rep. Courtney (D-CT))

H.R. 3179, the “Empowering Students Through Enhanced Financial Counseling Act” (Rep. Guthrie (R-KY))

S. 793, the “Bank on Students Emergency Loan Refinancing Act” (Sen. Warren (D-MA))

S. 1948, the “Access to Fair Financial Options for Repaying Debt Act” (Sen. Merkley (D-OR))

S. 85, “The Repay Act of 2015” (Sens. King (I-ME) and Burr (R-NC))

Notice: The information on this page may not be current. The archive is a collection of content previously published on one or more NAR web properties. Archive pages are not updated and may no longer be accurate. Users must independently verify the accuracy and currency of the information found here. The National Association of REALTORS® disclaims all liability for any loss or injury resulting from the use of the information or data found on this page.

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