Senate Bill to Help Firefighters with School Loans

By: Gaurav Bhola, MSM, Managing Editor

Paying off college loans has been a bane for former college and university students. In many instances school loans take a big portion out of the monthly cash flow. Student loans have a pronounced effects on borrowers with work income that barely meets their other financial obligations. For example, some full-time firefighters have difficulty meeting their financial obligations in addition to school loans. Herein, U.S. Senator Sherrod Brown, D-Ohio recently introduced legislation to forgive firefighters’ federal student loans.

Escalating university and higher education costs are leaving many firefighters struggling to payback their student loans.

According to Senator Brown, the main aim of the legislation is to recruit people to be firefighters, especially firefighters who are able to cope with the latest complex and advanced technology.

The bill would engender local communities to recruit firefighters who are able to comprehend the latest fire-protection technologies.

If Brown’s Fire Fighter Higher Education Incentive Act of 2007 becomes law, it could increase recruitment via incentives of student loan forgiveness. Herein, federal, state, and local districts could recruit educated people by forgiving their Perkins Loans.

Many involved in the fire protection arena, such as emergency medical techs, paramedics, rescue workers, ambulance and hazardous-materials personnel would also be eligible for school loan forgiveness.

The loan forgiveness can help firefighters financially, as the average salary of a full-time firefighter is approximately $35, 000. This salary is on par with teachers, but under current law firefighters don’t receive the same privilege as teachers with regards to loan forgiveness.

Presently, a college Perkins loan is forgiven for the military, nurses, teachers, and law enforcement officers. The proposed bill would only remedy disparities amongst firefighters and the others. This is the right thing to do. Hopefully, the legislation becomes law, as firefighters and the related fire protection personnel need our support.