Efforts Underway To Reduce Student Debt
November 12, 2014 –Network Indiana — Americans currently owe over $1 trillion in student debt and the National Education Association is trying to fight the problem by launching the Degrees Not Debt campaign.
The average amount of debt a student now assumes is $29,000, which the NEA feels is a “barrier to the American dream.” NEA President Lily Eskelsen Garcia is touring the nation promoting the campaign and calling on Congress to pass a bill authored by Senator Elizabeth Warren (D-MA) that would allow students to be able to refinance loans.
Eskelsen Garcia says allowing all student loans to be re-financed is just one step in the process. She also says colleges and universities can do their part by spending money more wisely and passing along fewer costs to students. She says students can also help alleviate debt by finishing school within a 4-year period.
NEA officials stopped at Purdue North Central in Westville on their tour this week.
Visit the NEA website for more information on the program.
Indiana’s college graduates have some of the highest student debt in the country, according to a recent report. StateImpact Indiana’s Claire McInerny has more on the Institute for College Access and Success’ annual report released on Thursday.