Americans over age 60 fastest growing demographic for student loan debt

According to the Consumer Financial Protection Bureau’s “Snapshot of Older Consumers and Student Loan Debt”, the age demographic in which student loan debt is increasing fastest is Americans over the age of 60. Factors for the explosion of debt in this group, according to the report, include it taking longer for borrowers to repay their loans and more parents and grandparents borrowing to help finance higher educations for their children or grandchildren.

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Survey finds strong support for laws to help Wisconsinites refinance student loans

Results of a new poll commissioned by One Wisconsin Institute finds broad support for reforms to help student loan borrowers. Nearly two-thirds of respondents favor allowing student loan borrowers to refinance their loans, just like you can with a mortgage. Since 2013, Republicans in the Legislature have repeatedly blocked legislation to help borrowers refinance their student loans.

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Many teachers struggling with low pay and high student debt, survey finds

In addition to being underpaid, many teachers are struggling to pay off hefty student loans, leaving them feeling overloaded and trapped, according to results of a new survey by NPR Ed. On a scale of 1 to 5, with five being “terrified” 28% of respondents said they were indeed “terrified,” while another 24% selected “4”, meaning a majority of teachers surveyed were either “terrified” or just shy of being “terrified.”

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Mason, Hansen reintroduce student debt relief bill

State Representative Cory Mason (D-Racine) and State Senator Dave Hansen (D-Green Bay) are reintroducing a bill to allow college students and graduates to refinance their student loan debt. The “Higher Ed, Lower Debt” bill, which was introduced in the last two sessions but rejected by the Republican-controlled Legislature, would allow student loan borrowers to refinance student loans at a lower rate, similar to a mortgage or car payment, and deduct their student loan payments from their income tax.

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Author says student debt is ‘America’s most pressing problem’

The human cost of rising student loan debt cannot be understated, Alan Collinge, founder of StudentLoanJustice.org, writes in The Hill. “Families and individuals are being financially destabilized and wrecked. Family formation, home and other purchases are being delayed or cancelled, people are actually fleeing the country and even committing suicide as a result of this predatory debt.”

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Rising costs shatter New Jersey student’s dream to attend UW

In a column in Time magazine, a New Jersey mother laments the fact that her son will not be able to attend the University of Wisconsin because the university has hiked out-of-state tuition to the point that it is unaffordable to an average family and student aid is virtually non-existent. She writes: “Out-of-state tuition, room, board, and fees for Wisconsin run more than $48,000 this year. Even with the money I’d saved in his 529 fund, there is no way I can afford to send him there, particularly on top of the cost of my elder son’s education. Their father and I are journalists, not hedge fund managers.”

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