New proposal to forgive some student loans
NEW HAVEN, Conn. (WTNH) — Bogged down by student loans? There’s a proposal to change the way college grads would have to pay back their student loans if they go into a certain public service professions.
“Sometimes it’s concerning when I think about getting the right job,” Southern Connecticut State University freshman Debra Denhart said. “You hope you can pay back the loans.”
“It worries me because it’s a lot of money,” freshman Steve Dickerson said.
Sen. Richard Blumenthal is trying to calm some of those worries for people going into public service. “Student loan debt is at an all time high,” the senator said at Southern Connecticut State University in New Haven Wednesday. He discussed a proposed reform to what’s called the “public service loan forgiveness program.”
Right now, you have to complete 10 years of public service and you’ll receive relief from your loans. This impacts people who work in education, public safety and health. If you don’t make it to ten years you’re out of luck. Blumenthal wants to change that.
“Give people who graduate with a lot of debt the ability to work it down over a couple or three years rather than the 10 years that is mandatory right now,” Blumenthal said. “It’s an all or nothing deal. I want to make it more flexible.”
“Hearing this I definitely think it would be a help,” SCSU freshman Amani Richardson said.
“You might want to change your major when you hear something like that,” Denhart said. “You know that could impact your decision.”
Blumenthal says he plans on bringing up the matter in Washington, and possibly adopt the reform before the session ends this year.