馃攳
House Adopts King Amendment Linking Three Month Student Loan Grace Period to Natural Disaster Date - YouTube
Channel: unknown
[0]
well the clerk will designate the
[1]
amendment amendment number 8 printed in
[3]
Part B of House report number 116 - 383
[6]
offered by mr. King of Iowa pursuant to
[10]
House Resolution 8 1 1 the gentleman
[13]
from Iowa mr. king and a member opposed
[16]
will each control five minutes
[18]
the chair recognizes the gentleman from
[20]
Iowa Thank You mr. chairman this
[23]
amendment in reading through the bill
[25]
brings something forward that we've
[28]
experienced a number of times in the
[29]
natural disasters that are poured forth
[31]
in the flooding in my district over the
[34]
17 years plus that I've represented the
[36]
folks in the Missouri River bottom in
[38]
particular but also a flex affects
[40]
everybody arras and around the country
[41]
and in reading the base bill it says
[45]
that the the three month grace period
[49]
that's granted for a student loan begins
[52]
on the date that the declaration of
[54]
disaster is issued and often that
[57]
declaration of disaster is issued
[59]
sometimes months after the disaster is
[62]
over and so so is the crisis over for
[65]
the student former student and who is
[68]
paying their student loans and having
[70]
difficulty making meeting those
[71]
obligations because they've been the
[73]
victim of a natural disaster or there'd
[75]
be a hurricane whether it be a flood
[76]
whether it be a tornado or some other
[79]
type of natural disaster and I see an
[81]
earthquake and down across from Florida
[84]
across the Caribbean this morning so
[86]
what this what this amendment does is it
[89]
moves that date back to the date of the
[93]
the initial date of the disaster itself
[95]
rather than the date that it's been
[98]
declared a disaster and so the language
[100]
that says in the current bill says date
[103]
on which the major disaster or emergency
[104]
was declared instead becomes initial
[108]
date of the incident period of the major
[110]
disaster or emergency and mr. chairman
[112]
I'd point out that some of these dates
[115]
along the way that stand out to me there
[117]
was flooding in North Dakota that began
[119]
in October 9th of 2019
[121]
and again continued until October 26th
[124]
of 2019 and that disaster was declared
[127]
not then but clear till January 21st of
[130]
2020 that
[132]
been the first date that the grace
[134]
period would kick in under this language
[135]
and I asked that that grace period kick
[138]
in immediately
[139]
although the announcement will come from
[141]
FEMA and wouldn't be on the first day of
[143]
the disaster but that's the first day
[144]
that they feel the financial stress I go
[146]
through a number of these Hornick Iowa
[149]
the courageous people of hornik bounce
[152]
back from that flood as strongly as
[153]
anybody I have seen but that began on
[156]
March 12th and the disaster declaration
[159]
came March 23rd so they lost some of
[161]
those days and I looked down to tropical
[163]
tropical storm Michael in North Carolina
[166]
and that disaster began October 10th to
[170]
12th and 2018 and four months later
[173]
January 31st 2019 was a declaration so
[176]
the credit of these people that are
[178]
trying diligently to pay their student
[181]
loans as damaged unless they have this
[183]
grace period that begins when the stress
[185]
period begins and that's what my
[186]
amendment does mr. chairman and I'd
[189]
reserve the balance of my time from Iowa
[192]
reserves for what purpose does the
[194]
gentleman for to seek recognition to
[196]
claim the time in opposition although
[198]
I'm not opposed
[200]
without objection gentleman's recognized
[203]
my servant this amendment will allow for
[206]
more time for private student loan
[209]
barrios and the process of
[211]
rehabilitating their loans to repay
[214]
their loans when when also impacted by
[218]
geographical a disaster and our
[221]
emergencies by change in language from
[224]
when a disaster our emergency is
[226]
federally declared - when the actual
[230]
disaster begin private student loan
[232]
borrower would have more time outside
[234]
when an emergency is officially
[237]
federally declared to explain and have
[240]
their situation taken into consideration
[242]
for hardship for example it was a shame
[247]
that it took president Trump more than
[249]
two weeks to declared a major disaster
[252]
declaration after Puerto Rico receive
[256]
string a string of earthquakes began in
[258]
December to 28th consumers should have
[262]
should should not be
[265]
personalized by politics when they are
[268]
in a dyed need for help as climate
[272]
change and other disasters continue to
[275]
have devastating consequences across
[277]
this country students who are
[279]
demonstrating that they can rehabilitate
[281]
their loans and improve their credit
[284]
scores should not have additionally
[287]
additionally suffer because of extreme
[290]
events like these calls hardships that
[293]
would reasonably interpret a payment
[296]
interrupt a payment it can take years
[299]
for communities to recover from national
[302]
and other disasters and this amendment
[305]
father allowed victim of deeds is asked
[307]
at the time that they deserve a fair
[310]
chance to improve their credit scores
[313]
and further credit opportunities I
[315]
support this amendment and served a
[317]
balance of my time
[320]
domin from Iowa is recognized how mr.
[323]
Chairman I inquire as to how much time
[324]
remains two and a quarter minutes and
[327]
for the other gentleman three minutes
[330]
okay
[332]
mr. Chairman I yield myself so much time
[335]
as I may consume in objection I
[339]
appreciate the gentleman's remarks with
[341]
regard to this amendment and I would
[343]
point out that we have 435 members in
[346]
this United States Congress and it was
[347]
envisioned by our founding fathers that
[349]
we would get ideas from every one of
[350]
those districts and they also recognize
[352]
that we're all human and no matter how
[354]
diligent we might be no matter how much
[356]
we care about the people that we are
[357]
helping sometimes things just kind of
[360]
slide along looks good on its surface
[361]
and we're busy and so that's why we all
[364]
want to look at this and that's why I
[365]
have the privilege to be here to offer
[366]
this amendment and having going through
[369]
natural disaster after natural disaster
[371]
after natural disaster suffered from
[374]
them my selves in fact the 1993 flood is
[377]
probably why I'm in this Congress today
[379]
because I realized that degree of risk
[381]
was not proportional to the potential
[382]
for profit if you're underwater and so I
[385]
want to help those students that want to
[387]
keep their credit in line and I
[389]
appreciate the support across this
[391]
Congress to do so and I would reserve
[393]
the balance of my time
[394]
gentleman from our reserves
[396]
it was time to gentleman from Florida is
[398]
recognized Thank You mr. Speaker I yield
[401]
myself the balance of a time I read all
[403]
about objection okay I urge all my
[405]
colleagues to support this amendment and
[406]
I yield back the balance of my time
[409]
gentleman yields back the balance with
[411]
tae-jong for i always recognized Thank
[415]
You mr. chairman I appreciate the the
[417]
gentleman's remarks again and and I
[419]
would just point out that you know of
[421]
this list of disasters that we have and
[424]
the delays we have in these disasters
[426]
the there's one here that on April 29th
[430]
a disaster declaration was declared for
[432]
severe storms and flooding within the
[433]
Sac and Fox tribe in the Mississippi in
[436]
Iowa and within it and I actually live
[438]
in sac County although that's not part
[440]
of that reservation with an incident
[442]
period spanning a March 13th until April
[445]
1st however the the disaster declaration
[450]
was April 29th so there was a month and
[453]
a half delay in that one I have other
[455]
examples of this mr. chairman but I
[458]
think that we have made our point here
[460]
today and I appreciate the attention of
[461]
diligence for the members on both sides
[463]
of the aisle and I would urge adoption
[466]
of my amendment and yield back the
[467]
balance of my time
[469]
gentleman yields back the balance of the
[471]
time the question is on the amendment
[473]
offered by the gentleman from Iowa those
[475]
in favor say aye
[477]
those opposed no in the opinion of the
[480]
chair the eyes have it the amendment is
[483]
agreed to
Most Recent Videos:
You can go back to the homepage right here: Homepage