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The Daily Wildcat

The Daily Wildcat

 

Democrats hope to decrease student debt

Rep. Debbie Wasserman Schultz, D-Fla., Sen. Chris Murphy, D-Conn., and College Democrats of America National President Natasha McKenzie spoke to college newspapers across the country Wednesday morning to talk about student debt reform and urge university students to get out and vote.

“The average graduate has about $26,000 in debt,” Murphy said. “Student loan debt has surpassed credit card debt in this country.”

Democrats are hoping to decrease student debt by lowering interest rates and allowing a certain amount of debt to be forgivable.

“Anybody who has student loans should be allowed to bring their interest rate down to 3 percent,” Murphy said.

Murphy said she believes that student debt reform is possible through higher taxation of wealthier citizens.

“We need the richest Americans to pay their fair share,” Murphy said. “Ask people who have made it to give others a fair shot.”

According to Murphy, the federal government has made $50 billion off of the student debt program. He said he hopes the federal government will sacrifice that profit so Americans can have more opportunity.

“We want the student debt program to break even,” Murphy said. “We need to focus on expanding opportunities for young people to be successful.”

Murphy said he believes Americans will back student debt reform but also understands that a Republican-controlled U.S. House of Representatives will not share the same view.

“They have taken the side of the rich and affluent and have decided against American families,” Murphy said.

Wasserman Schultz said that the best course of action for student debt reform is to get out and vote democrat.

Wasserman Schultz is also urging Washington to let go of its partisan ways.

“‘My way or the highway’ politics need to stop,” Wasserman Schultz said. “We need to make affordability of aid a priority so more young Americans can climb the ladder to the middle class.”
Wasserman Schultz is not worried about losing votes from young Americans, even though the democrats lost democratic voters in some demographics.

“We need students to speak at the polls,” Wasserman Schultz said. “Congress needs to prioritize students instead of the mega-rich, or we will be stuck.”

—Follow Max Lancaster @MaxLancaster9

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