Mar 18 2014
Senator Mark Warner met with a dozen college students and recent grads from across the Richmond metro area today to talk about student debt and the growing issue of college affordability.
Many of the young professionals said that they were postponing purchasing homes, investing in new businesses or starting families because of the burden of paying off enormous student debt.
The Senator spoke about legislation he is working on to help college graduates refinance their loans at lower interest rates. In addition, he has proposed the bipartisan "Student Right to Know Before You Go" legislation which would give prospective students and their families the tools to compare graduation rates, possible debt for colleges, and future earning potential for particular areas of study.
"When our Virginia young professionals suffer, our economy suffers. If we don't get this student debt issue fixed, it's going to be the next financial crisis," Senator Warner said. "Massive student debt doesn’t just cripple recent graduates, but it’s going to have dramatic effects on those of us who are even way beyond college.”