The SBAC strongly supports bipartisan legislation that will empower small businesses to compete for top talent and address the student debt crisis. This is exactly the type of work politicians should be focused on in DC.
According to the personal finance website, Make Lemonade, over $1.5 trillion in student loan debt is owed by more than 44 million borrowers in the U.S. — an average of about $40,000 owed per student. Many college graduates, working entry level jobs, struggle to make their student debt payments.
Small businesses are also impacted by the whopping student debt owed by prospective employees.
While some businesses may offer job applicants assistance with their student loans, many smaller companies do not have the capacity to provide such a benefit. This makes it more difficult for smaller businesses to compete for talented professionals.
To learn more, read the Elliot Richardson’s piece in the Daily Herald Business Ledger about galvanizing grassroots support to pass H.R. 795, sponsored by Congressman Rodney Davis (R-IL) and Congressman Scott Peters (D-CA).