U.S. Rep. John B. Larson plans to introduce a bill in June that would allow young people to reduce their student loan debt in exchange for joining federal service programs that assist the elderly, impoverished students and overseas countries.
Co-sponsored by U.S. Rep. John Lewis (D-Ga.), the Action for National Service Act would allow young people to reduce their student loan debt by volunteering for a full two-year term of service with various federal initiatives including AmeriCorps, Senior Corps, the Social Innovation Fund, and the Volunteer Generation Fund. The tuition benefit would be exempt from federal taxation and add up to double the average in-state college tuition where an enrollee’s’ college is located; two full terms would equal four years’ worth of in-state tuition. Larson said the act would fund up to 1 million federal jobs.
The first district congressman said his bill would increase federal service, including military service, beyond its current level of less than 1 percent of Americans. He said more are interested but lack of resources and funding to federal service programs means most of them are turned away.
