Democratic Party of Wisconsin
Press Release

Gov. Walker Continues to neglect student loan debt crisis

Republican's inaction is doing lasting damage to Wisconsin's economy.

By - Sep 27th, 2016 03:35 pm
Governor Scott Walker signs the 2015-17 State Budget into law at Valveworks USA in Waukesha. Photo from the State of Wisconsin.

Governor Scott Walker signs the 2015-17 State Budget into law at Valveworks USA in Waukesha. Photo from the State of Wisconsin.

MADISON – For six years, Republicans have refused to meaningfully address the crisis of student loan debt in our state – and today’s press stunt has not changed that trend.

Instead of addressing the student loan debt crisis with a real plan, Gov. Scott Walker took the moment to promote the big banks that continue to profit off the backs of Wisconsin borrowers. Walker is complacent with the student debt everyday Wisconsinites face and is unwilling to support legislation that allows borrowers to refinance their student loans at a lower interest rate, just as an individual can do with a mortgage.

“It’s time for Wisconsin lawmakers to put the future of the next generation before their greedy special interest pals who inappropriately make money on the backs of Wisconsinites,” Democratic Party of Wisconsin Chair Martha Laning said on Tuesday. “There is no acceptable reason for not allowing students to negotiate their loans like we can with a mortgage. Instead of pandering to their special interest pals, Republicans should focus on helping the more than one million Wisconsinites burdened with over $19 billion in student loan debt.”

Republican’s inaction is doing lasting damage to Wisconsin’s economy. Instead of investing in local economies through buying homes and cars, and other big ticket items, too many Wisconsinites are burdened with massive student loan debt, and are being forced to choose between putting food on the table and paying monthly rent.

“We need Democratic leadership in Madison that will put the needs of Wisconsin’s borrowers first instead of big money interests. Democrats believe that earning a degree shouldn’t result in a lifetime of debt. No one should be punished for trying to get a good education and neither should our economy,” Laning concluded.

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