Friday, July 21, 2017

Cleaver: Student debt is a growing problem

(From Fifth District Congressman Emanuel Cleaver)

In a few days, I will be hosting a town hall meeting to discuss an issue that many Americans are struggling with - student loan debt.

Student loan debt has been such a growing problem that I feel it may become just as paralyzing and damaging to the economy as the mortgage debt crisis in 2008. The total debt has surpassed $1.4 trillion dollars with millions of Americans continuing to struggle to pay their student loans.

I’ve spoken with students who tell me they have difficulty moving forward in life because they are burdened with overwhelming student loan debt.

It’s time address this issue and find solutions to ease the burden and make college more affordable.

The federal government should continue to incentivize loan repayment as an employee benefit and utilize the tax code to further expand this benefit.

Colleges and high schools need to improve existing efforts to help students understand the debt they are taking on, understand the difference between grants and loans, and improve financial education.

I can’t wait to hear from students, parents and others impacted by student loan debt at my town hall August, 2, 2017. Be sure to check my Facebook page and follow me on twitter, @repCleaver to learn more. Together we can make changes to this ongoing crisis.

1 comment:

Anonymous said...

Of course no one here has a comment on this issue, they support the party that cuts education funding to our local colleges and recently lead the Treasury Dept to raise interest rates on student loans.