“In survey after survey student loan debt is listed as one of the top issues that people say needs to be addressed. Unfortunately, the plan put forward by the Governor and Legislative Republicans leaves the vast majority of Wisconsin residents at the mercy of Wall Street.” – Sen. Dave Hansen
http://media2.legis.wisconsin.gov/multimedia/Sen30/hansenradio1.14.16.mp3
A written transcript of the address is below:
“I’m Senator Dave Hansen. On Monday, Governor Walker and legislative republicans introduced their plan to make higher education more affordable. Unfortunately their plan looks to help less than 1% of the over 815,000 Wisconsin residents who have student loans and little in the Republican plan actually helps current student loan holders.
“Wisconsin now ranks third in the nation for the number of residents with student loan debt. Seventy percent of college graduates now have student loan debt and sixty percent with student loan debt are 30 or older. The average student loan debt is over $28,000. Yet the Governor and Republicans have repeatedly rejected the best way to help borrowers by letting them refinance their student loans at lower interest rates like you can do with a home or car loan.
“Legislative Democrats put forward the Higher Ed/Lower Debt bill, a real plan that makes it possible for borrowers to refinance their student loans at lower interest rates and deduct their student loan interest expense on their tax returns. The tax savings alone could be as much as $530 a year. And when combined with refinancing Wisconsin residents could save even more.
“In survey after survey student loan debt is listed as one of the top issues that people say needs to be addressed. Unfortunately, the plan put forward by the Governor and Legislative Republicans leaves the vast majority of Wisconsin residents at the mercy of Wall Street.”
