Sunday, June 29, 2014

DC on student loan reforms this month...

see video on:
Student Loan Debt- Education officials testified on the effects on the economy of high student loan interest rates and debt. The hearing followed Senator Sherrod Brown’s (D-OH) introduction of the Bank on Students Emergency Loan Refinancing Act, which would allow those with outstanding student loan debt to refinance at the lower interest rates offered to new borrowers. One of the witnesses, a Washington, D.C., public school teacher, detailed his experiences getting loans for graduate school and the repayment period and options after graduation.

Witnesses testified on student loan debt and its effects on borrowers, career choice, and the economy. Brittany Jones talked about her struggles with student loan debt impeded her desire to become a teacher. Senators Ayotte, Kaine, and King all asked questions on the reasons for the cost of higher education. Senator King suggested another hearing with institution leaders to explain to the committee why tuition cost so much. POTUS on it too here and Ed Secretary on it here and this link to; Washington Journal Student Loan Reform Natalia Abrams talked by video from Studio City, California, about student loan reform and the work of her organization, StudentDebtCrisis.org.  Topics included the current debt situation, the reasons debt was rising, and her own experiences with student loans. She reacted to a video clip of President Obama’s speaking about his executive order of June 9, 2014, that would reduce student loan payments. Topics included how the plan would work and who would pay for it. She responded to telephone calls and electronic communications, including telephone lines divided between students and parents. More content available here.

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