Casten's GRADUATE Act Becomes Law
Washington, D.C. – U.S. Representative Sean Casten's (IL-06) released the following statement after the President signed Casten's GRADUATE Act into law as part of the year-end government spending and coronavirus relief bill. The GRADUATE Act (Giving Resources and Dollars to Undergraduates for Adequate Time for Education Act) eliminates the restriction that students can only take out federally subsidized student loans over three years for an Associate's Degree or six years for a Bachelor's Degree, while maintaining the overall cap on borrowing to prevent students from taking on too much debt. This added flexibility would enable students who encounter obstacles in their education, like needing to withdraw for a semester or transfer, to complete their degrees.
"I'm thrilled to see my colleagues on both sides of the aisle come together to support non-traditional college students and pass the GRADUATE Act into law," said Rep. Casten. "This law will give countless students the financial support and flexibility they need to walk across the stage at graduation and build a better life for their family."
The bill was endorsed by the National Education Association, the American Federation of Teachers, the University of Illinois system, the National Association of Student Financial Aid Administrators, the National Association of Independent Colleges and Universities, the Higher Education Loan Coalition, the Association of American Colleges and Universities, and the HBCU Collective.