Maloney Hosts Hudson Valley Students, Parents & Educators for Roundtable on Student Loans, Making College More Affordable
Nationwide Borrowers Owe More Than $1.3 Trillion in Debt
Poughkeepsie, NY — Representative Sean Patrick Maloney (NY-18) joined local students, parents, administrators and advocates for a roundtable at Marist College to discuss skyrocketing student loan debt and making college more affordable for hardworking Hudson Valley families. Last year, the average New Yorker with college loans owed $32,200, which is roughly $3,500 higher than the national average – and nationwide student borrowers owe more than $1.3 trillion in debt.
“My parents worked hard to send five kids to college on one middle class income, but today many parents struggle to send even one child to school on two incomes – we can do better,” said Rep. Maloney. “As a parent, I understand the struggle my neighbors are facing – crippling student loan debt, and the rising cost of a college education – that’s why I am working to refinance student loans and make college more affordable for Hudson Valley families.”
"We appreciate Congressman Maloney coming to campus today to discuss the important topic of college affordability," said David Yellen, President of Marist College. "We are committed to making a quality Marist education more affordable and accessible, as demonstrated by our competitive tuition, high loan repayment rate, and increased scholarship support. More work needs to be done, and conversations like today's will be critical for all colleges working to expand access."
"As a soon-to-be college graduate, student loans are and interest are scary things to think about. Upon graduation I may not be able to balance rent, loan payments, and other expenses. I am hopeful that the government can make reforms to fix this crisis,” said James Barry, Marist College '17.
"Our son Alex is a wonderful young man who is giving back to the community and helping people in need. What would help Alex, as well as the many thousands who are drowning in student loans, is if the interest rate(s) on government loans were much lower, commensurate with mortgage and car loans,” said Maddy and Larry Burday, parents of Alex Burday.
“As a Resident Assistant at SUNY Dutchess, I appreciate the blessing that financial aid has given to my parents and me. While I've been very blessed I don't believe any student or family should have to take on the burden of significant debt,” said Michael Zaruma, Resident Assistant at SUNY Dutchess.
Since joining Congress, Rep. Maloney has focused on combating student loan debt and making college more affordable for working families. He is a co-sponsor of the Bank on Students Emergency Loan Refinancing Act, which would allow student loan borrowers to refinance their loans at current rates. Rep. Maloney also wrote the Disabled Veterans Student Loan Protection Act, which would make it easier for disabled veterans to have their federal student loans forgiven, and he supports the ACTION for National Service Act that would provide educational benefits, equal to four years of average in-state tuition, for students who serve in national service programs like the Peace Corps.