Growing Student Loans and High Interest Rates

One of the items discussed at my town halls and included on my top 10 list was the growing cost of attending college. With grown children of my own, I know how expensive this is for parents, as well as the costs our children are incurring before they’ve even gotten a good start in the “real world” or had the opportunity to find a job that supports those costly loans.

One of the ways we can help our children to not risk their futures by starting off with high amounts of debt is to show them the benefits of beginning their higher education in high school with dual credit courses. In addition to dual credit courses students can also explore vocational and technical training offered by high schools, community colleges, and partnerships between the two. In fact, industry groups are working closer with schools to make industry standard certifications available that lead to high paying jobs.

We also need to be wary of applying for loans that will be difficult or almost impossible to pay back. Student loan debt is growing upwards of $1.2 trillion. Many students begin school and either take too long to graduate or drop out. At the federal level, I will push to ensure schools are being transparent about their gradation rates and realistic incomes attached to the degrees being offered. Colleges must also work to lower the cost of education.