A top legislative leader in Olympia has a plan to ease the student-debt crisis for Washington college students. Dan Frizzell from the Washington State House Democratic Caucus has more.
Three out of four college students leave school saddled with debt averaging thirty-two thousand dollars, repayable at interest rates ranging into the double digits. This phenomenon is often cited as one reason millennials aren’t buying homes: They can’t get mortgages because of student loans. The Majority Leader in the state House of Representatives has introduced legislation to create what he calls the Washington Student Loan Program, making one-percent loans available for college expenses. That lawmaker, Democratic Representative Pat Sullivan of Covington, says the crisis can be solved.
SULLIVAN: “It’s startling. It really points to the problem we have today, that students, who are really our future, are finding themselves with an incredible amount of debt, and many times struggle to get out of debt. That’s a problem which is fixable, and we should fix it.”
Sullivan’s College Loan legislation will have a public hearing in the House Committee on College and Workplace Development Wednesday afternoon. In Olympia, I’m Dan Frizzell.