Ron Kind: “I thank the gentleman. We ought not also ignore other important financial aid programs that especially speak to the…”

“I thank the gentleman. We ought not also ignore other important financial aid programs that especially speak to the needs of low-income children: the Pell grant program, work-study opportunities on and off campus, the GEAR UP and TRIO programs. This, too, helps many students--including myself, who is the first generation that went on to school--to be able to afford higher education so we are not driving these kids deeper and deeper into debt. The average undergrad in Wisconsin, by the time they graduate, has $28,000 worth of debt. It is the second largest debt in the Nation behind mortgages. At $1.2 trillion, it exceeds all credit card debt. So the 529 is another vehicle to try to alleviate that student indebtedness issue that is affecting more and more kids and families throughout the Nation. We ought to fix it by making a pay-for. This is a good first step, necessary policy changes. I encourage my colleagues to support the legislation.”