Student loan debt now outstrips credit card debt in the United States and some are concerned that if college costs cannot be contained, the nation’s future economic growth could be compromised. In today’s installment of our special series on student loans, WAMC’s North Country Bureau Chief Pat Bradley looks at how legislative efforts might impact the cost of college.
The cost of attending the University of Massachusetts for the 2014-15 academic year will not increase for the majority of undergraduates. The state’s taxpayers will be putting more toward the cost of a UMass education.
The University of Massachusetts board of trustees voted to freeze tuition and mandatory fees for in-state undergraduate students for the second year in a row. The back-to-back freeze is a first in recent UMass history.
With student loan debt sailing past the trillion-dollar mark, U.S. Senator Kirsten Gillibrand of New York is once again pitching a proposed law to let federal loan borrowers reduce their student debts by refinancing.
As college student loan debt continues to climb nationally, lawmakers in Massachusetts are proposing some ways to help.
A subcommittee of the legislature’s Joint Committee on Higher Education approved a report this week that contains nine recommendations including trying to decrease the time it takes to earn a college degree, increase state aid, and require all Massachusetts high school students to take a financial literacy course.
BOSTON (AP) — The state's higher education commissioner says more students at Massachusetts public universities and colleges are incurring larger amounts of debt to finance their educations, a trend that could have dire consequences for the region's economy.
The Boston Globe reports that Commissioner Richard Freeland told lawmakers Monday that the risk of incurring high debt could dissuade some people from attending college at a time when the state more needs graduates in science, high technology, and health care to compete in a global economy.
A new report from the U.S. Joint Economic Committee shows two-thirds of college graduates have student loan debt. It also finds that the amount of debt is more than 60 percent of the average annual income for recent graduates.
The Massachusetts legislature has formed a subcommittee to gather data and hear from students and educators across the commonwealth on the real impact of student loan debt.
Democratic State Representative Paul Mark, of the Second Berkshire district, a member of the Joint Committee on Higher Education, is serving as co-chair of the five member subcommittee that is tasked with investigating the rapid rise of student loan debt among current students and recent graduates.