Student Loan Debt

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ProgressNow - Advancing Progressive Agendas, State by State ::: Dear Friends and Colleagues, Below is a great example of how our Wisconsin affiliate is working to keep voters informed, even if it is the somewhat disheartening topic of student loan debt. By not only providing information but also methods to become involved, we hope to spur engagement among young voters. This is just 1 of our 21 states doing what we do every day - make progress happen, and happen NOW. As always, let me know what you think, or even better, contribute to us here. http://progressnow.pnstate.org/site/R?i=L6qowpjB4KQ7XWxts-hP5A Best, Denise Cardinal Executive Director ProgressNow ProgressNow Education One Wisconsin Now Congratulates Graduates With Information on Student Loan Debt With college graduations starting this week, One Wisconsin Now wants to be sure that students are aware of the realities they face, and the effect their student loans have on the economy. The Congressional Budget Office is now projecting the government will make a $51 billion profit from student loans in fiscal year 2013, roughly $6 billion more than Exxon-Mobil, the most profitable corporation in the U.S. in 2012, according to a report in the Huffington Post. One Wisconsin Now Executive Director Scot Ross commented, "It is obscene that our government is projected to make more off the loans students have taken out to pursue their higher education, than the most profitable corporation in the country made in net profits last year." http://progressnow.pnstate.org/site/R?i=WgoEslb2ZsXxfECLGnO3hg Original research by the One Wisconsin Institute (the ProgressNow Education affiliate in WI) found that the impact of the trillion-dollar student loan debt crisis goes far beyond students and their families. Graduates with a Bachelors degree report making average monthly payments of $350 for an average term of 18.7 years. The economy-wide detrimental impacts of this debt include over $200 million in lost new auto sales every year and significantly lower rates of home purchasing and ownership among graduates earning solid middle class incomes but are saddled with student loan debt. Wisconsin Representative Mark Pocan, speaking for the Progressive Caucus, acknowledged the Institute's research on the House floor (see 10:10) this past Wednesday May 22. To learn more about this research, you can watch Executive Director Scot Ross on MSNBC. http://progressnow.pnstate.org/site/R?i=liQM20JZ1M7rgEDR0AYYSg http://progressnow.pnstate.org/site/R?i=6jLcgGMIT8LAKEc315cT4A http://progressnow.pnstate.org/site/R?i=rdkPX4Q2nvPtoH9uEIvyYg However, the One Wisconsin Institute is not just sitting on the sidelines. Instead, the Institute has begun a six-year strategic plan in conjunction with the ProgressNow network to raise awareness of the dire economic impact of the trillion-dollar student loan debt crisis and to encourage policy solutions at both the state and federal level. This includes implementing research and communication campaigns, with the hope of not only informing the public but also encouraging voter turnout and engagement among younger voters in 2014 and 2016 elections. ::: Copyright 2012 ProgressNow Change your e-mail preferences or unsubscribe: http://www.pnstate.org/site/CO?i=l6OyHTOu1xS6HqZdCK1yaVlmtpdJC4J2&cid=0