In continued effort to address student loan debt and college affordability, Congressman reaches out to Iowans
Washington, D.C. - After a recent report showing a 12-fold increase in the cost of college tuition in the last 30 years, Rep. Bruce Braley (IA-01) today called on Iowans to share their stories receiving and repaying student loans. Braley will share the comments he receives with Department of Education in his continued effort to address the student debt crisis and college affordability.
"I was lucky to receive college student loans when I attended Iowa State, but my experience pales in comparison to present-day graduates who have the highest level of student loan debt in history," Braley said. "We've got to find solutions to rising tuition costs and rising debt burdens, and a big piece of that hearing and sharing the first-person stories of those facing these challenges."
Braley is seeking personal stories from Iowans that have taken out student loans and/or are repaying those loans, and the challenges they have faced to further their education goals. Stories can be shared on his website at: braley.house.gov
Braley recently sponsored the Bank on Students Emergency Loan Refinancing Act, allowing individuals to refinance their student loan debt at lower interest rates, helping address the record high levels of crippling loan debt and delinquencies increasingly affecting millions of students and their families. The U.S. Department of Education estimates this new legislation would benefit 311,000 Iowa student borrowers.
Student loan debt today totals $1.2 trillion, $864 billion of which is backed by the federal government. More than 70 percent of students who graduated from college in 2012 had student loan debt.
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