Student Loan Debt Is Crushing Our Future

October 27, 2011

Nationally, student loan debt has reached $100 billion and is projected to surpass $1 trillion by mid 2012. In Virginia, the State Council on Higher Education released recommendations calling for tuition increases of 3% to 5% at state colleges and universities to pay for mandates in Governor McDonnell's higher education reform package which passed in 2010. Yesterday, President Obama announced proposed changes to student loans that would ease repayment provisions for over 1 million students.

The Progressive Point: For years, we've all been told that a college education opens doors to good-paying jobs and economic security. But these days, good-paying jobs are few and far between. Students are graduating from college with crushing debt and no economic opportunities to relieve the burden. Big banks are making big bucks off of student loan interest while young people are struggling to make ends meet, wondering what happened to the opportunities they were promised. We must do better. Governor McDonnell promotes policies that increase the cost of college tuition and Lt. Governor Bolling declares government has no role in job creation. Virginians deserve better. Its time Virginia's leaders focused on creating jobs and opportunities for all Virginians.

Tweet it: With college tuition and student loan debt rising, our leaders must focus on the next generation now. http://bit.ly/uJwCG1 via @ProgressVA

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