Rodney Davis: Congress trying to aid college debt battle
As students head back to campus this fall, one question weighing on the minds of many of them and their parents is how they are going to pay for it.
The average student enrolled at any four-year university in Illinois is slated to graduate with more than $28,000 in debt, contributing to the $1 trillion in cumulative student debt held by graduates throughout the country. Since 1985, the cost of earning a degree has increased by 500 percent, requiring more student debtors and, therefore, more debt. Curbing these costs is going to take both federal and state governments working together with our nation’s schools to ensure college remains attainable for students at all income levels. Last summer, Congress was successful in stabilizing and keeping student loan rates low for millions of borrowers, and last month the House took the first step at reauthorizing the Higher Education Act by overwhelmingly approving three bipartisan bills to empower students and encourage innovation. First, we need to ensure students have the tools they need to make well-informed decisions when picking a school. The Strengthening Transparency in Higher Education Act would revamp the College Navigator website (nces.ed.gov/collegenavigator) and create an online college dashboard so students and their parents have access to important information — such as enrollment data, completion rates, costs and financial aid opportunities — on our nation’s institutions of higher learning to help make this important decision a little easier. Read more here.
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