Student loan debt: a great crisis of our time
Graduation is a momentous opportunity for students and families to celebrate their accomplishments and embark on the next chapter of their lives. Recently, I gave the commencement speech at Las Positas College in Livermore and saw many bright students ready and eager to solve some of our biggest problems.However, the cost of higher education for many students will be a significant burden for years to come.
Right now, 40 million young people have about $1.3 trillion in student loan debt. The average student debt holder leaves college with $33,000. I understand the burden, as I, too, have student loan debt. This tremendous weight is holding borrowers back and delaying major decisions in their lives: starting a family, buying their first house, or starting their own business.
As your Congressman, I am offering solutions to solve this crisis and put more money at the end of the month in the hands of young people. Public education must be treated as a public good. That’s why I signed on to the Debt-Free College Resolution, which calls for students to be able to graduate from public colleges and without debt. I’m also leading legislation to allow student loan borrowers to refinance their loans at a lower rate, something they can’t do today, the same way people can refinance their home and auto loans.
Read more about my work to address the student loan debt crisis and personal student loan story in a recent interview with the online outlet Refinery29.
As always, it is an honor to represent you. To stay in touch, you can connect with me on Twitter @RepSwalwell and on Facebook. If you haven’t done so already, please sign up to continue receiving this e-newsletter.
Member of Congress