Wednesday Hearing In Madison On Student Loan Reform
One Wisconsin Now (disclosure: I am on its C-3 Institute board) has produced pioneering research into the damage student loan debt does to the Wisconsin economy. There will be a legislative hearing tomorrow in Madison on the Higher Ed, Lower Debt Act to air out some reform proposals.
An innovative state solution to help tackle the $1.2 trillion student loan debt crisis will take a first step forward toward becoming a reality in Wisconsin with a public hearing before the Senate Committee on Universities and Technical Colleges. One Wisconsin Now Executive Director Scot Ross encouraged individuals with student loan debt to attend the hearing or contact their state legislators to share their stories and how the Higher Ed, Lower Debt Act could help them.
The Senate Committee on Universities and Technical Colleges will convene at 10AM on Wednesday February 5 in room 400 Southeast of the State Capitol to take public testimony on Senate Bill 376, the Higher Ed, Lower Debt Act.
A great step in an era of otherwise heavily-partisan State Capitol dysfunction.
The provision in this bill,
ReplyDelete"Allow borrowers to deduct their student loan payments on their state income taxes, just like you can with home mortgage interest;"
has potential.
Student loan interest is already deductible and now what's being proposed is the payment too?
I already heavily subsidize the cost of state run universities and technical colleges.
Make you a deal. Let the legislative fiscal bureau calculates the fiscal impact to revenue collection. To fun the proposal we could offset the difference to balance the budget with cuts to social programs.
That's great incentive to get a better education.
Now we're both happy.