1. United States
2. Colo.
3. Letter

I am writing to express my strong support for income-driven repayment (IDR) programs for federal student loans. These programs represent a crucial lifeline for millions of Americans striving to achieve higher education and contribute to our nation's workforce. As the current administration hacks away haphazardly at programs that support millions of Americans, including myself, I need to know this will remain especially as it was in the terms of our original contracts! The rising cost of education has placed an immense financial burden on students and their families. While federal loans provide essential access to higher learning, the traditional fixed repayment plans can be overwhelming, particularly for those entering lower-paying public service careers or facing economic hardship. Income-driven repayment plans, such as Income-Based Repayment (IBR), Pay As You Earn (PAYE), and Revised Pay As You Earn (REPAYE), offer a more equitable and sustainable approach. By tying monthly payments to a borrower's income and family size, IDR programs ensure that repayment remains manageable, preventing defaults and alleviating financial strain. Here are some key benefits of robust and well-funded IDR programs: * Increased Accessibility to Higher Education: IDR programs encourage individuals from diverse socioeconomic backgrounds to pursue higher education, knowing that repayment will be proportionate to their earnings. * Reduced Default Rates: By aligning payments with income, IDR programs significantly reduce the risk of default, protecting borrowers' credit scores and preventing further financial hardship. * Support for Public Service Careers: Many vital public service professions, such as teaching, social work, and public health, offer relatively lower salaries. IDR programs enable individuals to pursue these essential careers without being burdened by insurmountable debt. * Stimulation of the Economy: By alleviating financial stress, IDR programs allow borrowers to invest in their communities, purchase homes, and contribute to economic growth. * Fairness and Equity: IDR plans are inherently fairer than fixed repayment plans, as they recognize that borrowers' financial circumstances can change over time. While improvements can always be made to streamline and optimize IDR programs, their fundamental principles are sound. It is crucial that we maintain and strengthen these programs to ensure that higher education remains accessible and affordable for all Americans. I urge you to support policies that protect and expand income-driven repayment programs for federal student loans. Thank you for your attention to this important matter.