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State Representative Gene Pelowski Jr.
100 Rev. Dr. Martin Luther King Jr. Blvd.
651-296-8637
For more information contact: Chris Shields 651-296-8873
Press/News Releases
WITHOUT RELIEF, GENERATION OF DEBT WILL CONTINUE
A report released by the U.S. Public Interest Research group recently, shows student debt in Minnesota is getting worse than it already was. The report showed that during 2004 and 2005, more than 5.5 million students took out federally subsidized Stafford loans. That number doesn't include students who take out unsubsidized federal and private loans to help pay for college.
Closer to home, the report showed the average Stafford loan debt for a Winona State graduate to be a little more than $13,000. It also showed that student debt was increasing faster than the cost of living in the Twin Cities.
But what does that mean to a recent graduate? It means being saddled with monthly payments for years to come. It means graduates will put off starting a family and buying a home; deferring the American Dream. It's a barrier to being successful after putting in years of study. It's unacceptable to continue saddling our young people with an undue burden and create barriers for working Minnesotans looking to increase their education and skill base.
Proposals in Congress to cut the interest rates on federal student loans are very helpful to graduates pay off their loans a little faster. However, we need to address why students need to borrow all this money in the first place. In the last few years, when the state budget was running in deficit, investments in higher education were neglected. A large chunk of the state budget was balanced on the backs of college students, through taxes disguised as double-digit tuition increases. The situation has gotten so bad, at this point we can only concentrate on funding what students at our state colleges and universities absolutely need. What they need first is a break from excessive tuition increases.
It's my hope that with a new Legislature, we can work with the Governor to take the first step in ending expansion of a "Generation of Debt."
Rep. Gene Pelowski (DFL-Winona) is Chairman of the House Government Operations, Reform, Technology, and Elections Committee and a senior member of the Education Finance Committee.
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News Items
- REP. GENE PELOWSKI: MINNESOTA STATUTE 12A IMPROVES STATE DISASTER RECOVERY PROCESS AND DISASTER RELIEF PACKAGE - (Posted: 2012-08-24 00:00:00)
- REP. GENE PELOWSKI AND SEN. JEREMY MILLER SUPPORT TWO-BRIDGE PROPOSAL - (Posted: 2012-08-23 00:00:00)
- REP. GENE PELOWSKI: STATE DISASTER RECOVERY PACKAGE SHOULD FOLLOW PROCESS OUTLINED IN 12A AND INCLUDE PUBLIC INPUT - (Posted: 2012-08-16 00:00:00)
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