S. 3207: Deferment for Active Cancer Treatment Act of 2018

This position statement was submitted by Critical Mass: The Young Adult Cancer Alliance on Jul 15, 2018.

Each year, 80,000 adolescents and young adults between 15 and 39 are diagnosed with cancer in the United States. This is a population that is rarely financially stable enough to have access to paid leave, personal savings, or credit to pay for medical and non-medical expenses. Young adults are left with very few options when making decisions between life-saving care and their finances.

For example, battling cancer is not a qualifying reason for student loan deferment. On average, a young adult will incur an additional $45,000 of debt while they seek out life-saving care. Without a doubt, this financial burden contributes to the 11.2% national delinquency rate on student loans.

Senator Bill Nelson (D-FL) introduced S.3207, the Senate companion to H.R. 2976, Deferment for Active Cancer Treatment Act which was originally introduced by Reps. Ileana Ros-Lehtinen (R-FL) and Ed Perlmutter (D-CO). This is a commonsense public policy solution that provides young adults with a small amount of financial relief while they take time off to receive cancer care.

The Deferment for Active Cancer Treatment Act does not seek to change the terms of the public loan agreement between lender and borrower. This bill simply enables individuals who are diagnosed with cancer to pause payments on public student loans while actively receiving treatment and without interest accruing during the deferment period. Once treatment is over, we hope these young Americans will be able to get back on their feet faster; returning to work or school with the expectation of being a full and contributing member of society.