EAU CLAIRE, WIS (WEAU)- Thursday U.S. Representative Ron Kind was in Eau Claire to discuss his student loan debt action plan.
Representative Kind discussed his five-step plan that included: the government not profiting from student loans, allowing refinancing of student loans, expanding the student loan interest deduction, matching loan payments to earnings, and he is also pushing for giving students the same interest rates a big banks.
Congressman Kind broke down why he believes this bill to be so important saying "The typical undergraduate in Wisconsin is looking at $2,800 worth of debt by the time they finish school. Nationwide, $1.2 trillion worth of debt with student loans exceeding credit card debt for the first time in our nation’s history.”
He also says he’s worried the debt is putting students in a deep financial hole and it will lead to an economic bubble waiting to burst, doing harm to the growth of job creation.
The bill is still in the early stages but when asked if the congressman has gotten much support he says that instead of support he’s seeing deep cuts to financial aid programs.