Washington, DC – Senate Democrats met with youth advocacy leaders to talk about student debt and college affordability, as well as the economic stability of young parents in the workforce.
Far too many Millennials are burdened by student debt – totaling more than $1.3 trillion nationwide. In the last decade, the average student debt at graduation has increased by twice the rate of inflation to nearly $30,000 in 2014. Student debt inhibits young people from putting aside money for a rainy day – as well as for other long-term goals like starting a family, buying a home, or creating a business.
Senate Democrats have been active in trying to respond to these economic challenges – introducing the In The Red Act, which would reduce interest payments on student debt, increase Pell Grant assistance, and expand access to tuition-free community college.
