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By Lexi Lonas | The Hill
Sens. Mitt Romney (R-Utah) and Kyrsten Sinema (D-Ariz.) on Thursday introduced a bipartisan bill to tackle student loan debt.
The Earn to Learn Act will allow low-income students to pay for college-related expenses through a college-matched savings program
“We must do better to ensure American students have the skills and training necessary to pursue good-paying jobs that keep up with our changing economy,” Romney said. “Our legislation will help students pursue their education by equipping them with the financial resources and knowledge they need to attend college, career and technical schools without the burden of being saddled with debt when they graduate.”
The savings account allows participating states or nonprofits to give an extra $8 to every $1 a student puts into the account and the money can be used once a student selects a school to attend.
The bill is based on a similar program that has existed in Arizona for 10 years and has helped many students in the state graduate debt free.