Trump-backing Congressman who graduated with $110,000 in debt: ‘College costs are at a crisis level’

As concern continues to build over Americans’ collective $1.3 trillion outstanding student loan balance, policy makers at both the local and national level are looking for ways to mitigate the challenge. Now another Congressman is throwing his ideas into the ring, but he has some power behind him.

Rep. Tom Reed (R-N.Y.), 45, a vice chair of Donald Trump’s transition team, released his “Vision for Students” earlier this month, a document featuring a variety of policy proposals to address college affordability and student debt.

The arguably most innovative of the recommendations is a bill he plans to introduce next month that would require colleges and universities with endowments worth $1 billion or more to devote at least 25% of their investment gains to helping middle-class families pay for school, or risk losing their tax-free status.

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