Congressman Darren Soto wants to give graduates with STEM degrees — science, tech, engineering and math – a break on repayment of federal student loans.
POLITICO Florida reports the Orlando Democrat introduced Wednesday the American Science Principal and Interest Reduction and Employment (ASPIRE) Act, which seeks to provide a 25 percent reduction in federal student loans for students who graduate with a degree in a STEM field. The act would also cover loans taken out by parents.
For example, eligible students with $40,000 in federal loans would see a drop of $10,000 to $30,000.
“These are the jobs of the future and our goal is to motivate our youth to get an education and train in a career that is in high demand,” Soto said. “Working to create high-paying jobs is my priority in this Congress but everything starts with a solid education.”
Soto cited figures from the U.S. Bureau of Labor Statistics, which show STEM jobs pay nearly twice the average salary of other jobs.