Making college more affordable

Across the country, high school students are busy applying to college. They are trying to pick the best school so they can build a future for themselves. This should be a time of dreams and ambition, and a college education should be within reach of any student who wants to attend.

When I attended college, things were different. After finishing high school, I attended Lane Community College, and then the University of Oregon for two more years of college and three years of law school. At the end of seven years of higher education, I had a manageable amount of debt.

That's not the experience of students today.

Too many students are burdened by too much student loan debt. And with student loan debt surpassing credit card debt, it’s no wonder young people are putting off buying homes, starting families, and pursuing the American dream.

Student debt is hurting our economy and holding back our young people.

This is an area where we can – and must – do more to help young Americans. First, we must protect low-interest student loans, like the Perkins Loan program, that make college accessible. Fortunately the House and Senate have voted to extend this program, but there is still more work to do.

We should be doing everything we can to reduce the burden of student debt, not creating more uncertainty.

We should increase investments in Pell Grants and expand education tax credits, while also taking steps to help students manage their debt. I have sponsored bipartisan legislation to improve financial counseling for students so they can better understand their responsibilities as grant recipients and their loan repayment options. And we should also immediately pass legislation that allows students to refinance existing loans to take advantage of lower interest rates and reduce their monthly payments.

As more and more jobs require higher education to earn a family wage, we need to protect programs that make college affordable. Oregonians and Americans deserve access to affordable higher education.

Thank you for standing with me on this important issue.

With appreciation,