democrat bobby bliatout for congress.
Education needs to be affordable.
Our young people need to be educated. It's the best path to a good job and a better life. Because many young people understand this reality, they are taking on student loans to pay for their college education. In fact, Americans owe $1.3 trillion in student loan debt–that's trillion with a T. And it's also the second-highest level of consumer debt behind only home mortgages.
I believe that this is a major problem that needs to be addressed aggressively and right away. It's just not right that young people start their post-college lives with the pressure of so much debt.
Here a few thing we can do:
- Restructure current student debt so that no one has to pay 5% of their monthly, after taxes, to pay off their debt. So, for instance, if someone with student debt is grossing $2,500 a month then they pay no more than $125 a month for their loan including interest. This will actually stabilize the market, as defaults will decrease.
- Allow students to pay off their debt through public service jobs like teaching in inner-city or rural schools or even serving in the domestic Peace Corps.
- Begin to move toward low-cost to free university education by encouraging that more endowment money be granted to schools like Fresno State University and Cal State-Fresno.