Statement from Senator Hansen:
Governor’s Plan Leaves 97% of Student Loan Holders at the Mercy of Wall Street
“The student loan crisis is perhaps the biggest issue facing our state today with nearly 1 million Wisconsin residents holding some type of student loan. Its impact on the economy costs businesses and our economy hundreds of millions of dollars per year and the jobs those millions would create.
“60% of student loan holders in Wisconsin are over the age of 30—the age at which people look to start families, buy new homes and cars. Research has shown that the student loan crisis is costing our economy over $200 million per year in lost new car sales alone.
“Tinkering around the edges with a plan that ignores the needs of 97% of student loan holders in the state does nothing to help the hundreds of thousands of people struggling under the weight of crushing student loan debt except leave them at the mercy of Wall Street.
“The Governor’s opposition to allowing the refinancing of student loans will continue to be a drag on our economy and will increase brain drain as new and recent graduates move to states like Minnesota where they can find better paying jobs and lower interest rates on their student loans.”