Third Way Statement on the Introduction of the Pay Down, Upskill Act of 2021

WASHINGTON — Third Way issued the following statement from Lanae Erickson, Senior Vice President for Social Policy & Politics:

“Well into the second year of the COVID-19 pandemic, millions of workers remain unemployed, and millions of student loan borrowers worry about how they will resume making repayments on their debt. As the nation rebuilds, we need a massive higher education investment to support Americans anywhere along the postsecondary pipeline, whether they’ve already been to college or have plans to enroll in the months and years ahead.

“Today, Representative Conor Lamb (D-PA) demonstrated his commitment to current, former, and future students by introducing the Pay Down, Upskill Act of 2021. This bill gives a financial boost to all eligible Americans between the ages of 18 and 65 by providing a one-time $10,000 education credit that they can use to either pay down existing student loan debt or pursue high-quality training to upskill.

“This federal investment in our nation’s workforce will give borrowers critical financial support through the pandemic and beyond and empower workers for success in the future economy. The Pay Down, Upskill Act of 2021 is also a smart investment of taxpayer dollars as it benefits far more American workers than proposals focused on student debt alone - including those with no college education.

“Third Way congratulates Rep. Lamb on the introduction of this bill and looks forward to supporting Congress as it prioritizes investments in our nation’s higher education system.”