One Way States Can Help Student Loan Borrowers
Huffington Post - about 1 year
Ali Sinicrope and her husband would like to buy a house, but they’re not sure they can afford it. They’re public school teachers in Middletown, Connecticut, and they owe $80,000 in student loans.
“It just adds up,” Sinicrope, 40, said of the $600 monthly payment her family strains to make. “That’s less money, now, that we can save toward a house, that’s less money that we can put toward our kids’ college tuition.”
Connecticut lawmakers want families like the Sinicropes to spend less on student loan payments and more on everything else. Starting next year, the state will offer a refinancing program that’ll allow some borrowers to save money by lowering the interest rates on their loans.
“The burden of this debt is a real millstone around the neck of our economy, and we need to address it,” said state Rep. Matt Lesser, a Democrat who represents Middletown. Almost 18 percent of Connecticut residents who have a credit file have student debt — $31,100, on average, according to
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