‘Higher Ed, Lower Debt’ bill is common-sense approach to student loan crisis, Rep. Cory Mason says

Rep. Cory Mason

Rep. Cory Mason

The “Higher Ed, Lower Debt” bill being proposed by Democrats in the Legislature is a common-sense approach to addressing the student loan debt crisis, Rep. Cory Mason (D-Racine) said Friday in the Democratic Weekly Radio Address.

“The student debt crisis is harming our economy and preventing far too many of our hardworking citizens from achieving the American Dream,” Mason said. “Our proposal allows borrowers to refinance their student loans, just like a car loan or mortgage. This common-sense, popular approach has already proven effective in other states, and it will save borrowers hundreds of dollars a year, grow Wisconsin’s economy and strengthen our middle class.”

The audio file of this week’s address can be found here and a video version can be viewed here or below.

Here is the text of Mason’s radio address:

One of the biggest challenges facing Wisconsin today is the high number of people burdened by student loan debt. The student debt crisis is harming our economy and preventing far too many of our hardworking citizens from achieving the American Dream.

But instead of putting forward serious ideas, Governor Walker and his legislative allies have put forward anemic election-year proposals that will do nothing to lower monthly payments for the more than one million Wisconsinites with student debt. And the Republicans’ so-called plan pales in comparison to the massive cuts they have made to education and job training.

There is only one acceptable solution to this problem – the “Higher Ed, Lower Debt” bill. Our proposal allows borrowers to refinance their student loans, just like a car loan or mortgage. This common-sense, popular approach has already proven effective in other states, and it will save borrowers hundreds of dollars a year, grow Wisconsin’s economy and strengthen our middle class.

Wisconsin ranks third-worst in the nation in student loan debt. For the more than one million Wisconsinites with student loan debt, this crisis is real. It deserves a real policy solution, not election-year gimmicks.

Read more:

Students testify in support of Higher Ed, Lower Debt bill – WEAC

Wisconsin student loan debt is 3rd highest in country, new study finds – WEAC

Bill would allow re-financing of student loans – WEAC