Student Loan Corporation Detail
Student loan debt is second only to mortgage debt in America, totaling out to about 1 trillion dollars. This is a serious financial hit for graduates, especially in a fairly weak economy. But, some Alaska legislators are working to reduce the burden on students.
Representative Les Gara, and six other Democrats, are the primary sponsors of a bill pre-filed on Friday that takes aim at reducing student loan debt for Alaskans.The initial intention was to reduce student loan rates by 3 percent if the student either stays in, or moves back to Alaska after graduation, but Gara says the Alaska Student Loan Corporation proposed an alternative of an annual 2.5 percent principle reduction.Gara says if the legislation passes, the Student Loan Corporation will likely ask for an appropriation from the state to help fund the student loan reduction, though the amount is unknown at this time.
Student loan debt is second only to mortgage debt in America, totaling out to about 1 trillion dollars. This is a serious financial hit for graduates, especially in a fairly weak economy. But, some Alaska legislators are working to reduce the burden on students.
Representative Les Gara, and six other Democrats, are the primary sponsors of a bill pre-filed on Friday that takes aim at reducing student loan debt for Alaskans.The initial intention was to reduce student loan rates by 3 percent if the student either stays in, or moves back to Alaska after graduation, but Gara says the Alaska Student Loan Corporation proposed an alternative of an annual 2.5 percent principle reduction.Gara says if the legislation passes, the Student Loan Corporation will likely ask for an appropriation from the state to help fund the student loan reduction, though the amount is unknown at this time.
Student Loan Corporation
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