On the recordMay 9, 2012
Right now, families across this country are sitting around their kitchen tables trying to figure out how they can send their kids to college. They're talking about how to finance a college education when the cost of that is rising faster than the cost of health care. Parents are making some very difficult decisions. Should we refinance our homes and dwindle our retirement? How much money can we borrow? How much can we ask our kids to borrow in order to put this financial package together? And for the first time, many of these parents are considering the unthinkable: maybe they can't afford to send their kids to college. Meanwhile, in 52 days, if Congress does not act, a very bad situation will get worse. On July 1, the interest rates on the Stafford student loans will double from 3.4 to 6.8 percent. Vermont students, American students and parents need action from Congress and need it now. Over the past few weeks, I've been asking Vermonters to share their real-world stories, and I'd like to tell a few. Katie from West Glover graduated with $36,000 in student loan debt. And it's a tough economy. She's had a hard time finding a job, so she took an internship so she can keep advancing her career. She works 5 to 6 days a week making 25 bucks a day. She's essentially providing well- educated, cheap labor, but she doesn't have a choice.…





