U.S. Reps. Adam Schiff (D-Burbank), Raúl Grijalva (D-Ariz.), Jamaal Bowman (D-N.Y.) and Sheila Cherfilus-McCormick (D-Fla.) on Dec. 14 introduced The Student Loan Relief for Medicare and Social Security Recipients Act, which would fully relieve Medicare and Social Security Disability Insurance participants of all student loan debt that dates back more than 20 years.

According to Consumer Financial Protection Bureau data from 2019, more than 3 million Americans aged 60 and older collectively owed more than $86 billion in unpaid student loans – up from $66.7 billion in 2017. While the Biden administration’s efforts to forgive up to $20,000 per individual would significantly reduce that burden, people between the ages of 50-61 hold an average of $43,444 in student loan debt, more than double the maximum relief amount.

Student loan debt is particularly crushing for disabled and older individuals, who have extensive health care and other costs they must counterbalance with debt repayment. An analysis from the CFPB found that 39% of consumers aged 60 and older who have student loan debt failed to take care of health care needs such as prescription medicines, doctor visits and dental care because they couldn’t afford it, compared to 25% of older consumers without a student loan.

Many older Americans have also turned to their Social Security benefits to pay back student debt, and a third of seniors with student debt are in default on their loans – enabling the federal government to garnish up to 15% of their Social Security income. From 2002 to 2013, the number of individuals whose Social Security benefits were offset to pay student loan debt increased about five-fold, putting a significant strain on those who are already facing economic hardships.

“Student loan debt is one of the greatest barriers to economic mobility in this country – an albatross around the neck that often weighs heaviest as people enter what should be their golden years. In a society and workforce that prizes higher education, we should be doing everything we can to make these pursuits more affordable and accessible, instead of the reason someone cannot buy a home, save for retirement, or pay for lifesaving medical care later in life,” Schiff said. “We should eliminate as much student debt as we can for everyone, but especially for those who have spent decades of their lives working to pay it off. This bill would ensure that instead of triaging their benefits, seniors and disabled individuals can focus more on their health, their families, and thriving in their best years.”