With skyrocketing tuitions, the current system of taking out loans to pay for college just isn’t working anymore. Students are borrowing twice as much money to pay for college than they did in 2000, and graduating with debt that prevents them from saving and investing for the future. Almost half of those with student debt are either in default or behind on their loans. This is affecting the way voters think about this issue – in fact, three quarters of Massachusetts voters expressed concern about the effects of student debt on their family.
We need to build a future that works for our students and the economy. We need to take action to raise our voices against a broken financial aid system.
Massachusetts has led the way in healthcare reform, equal rights, and gun control. Now we can fight against student debt. We can fix this broken system by creating a zero debt movement that replaces loan with grants and pushes the legislature and colleges to wipe out student debt and increase state funding for higher education. Research shows that zero debt colleges results in greater socioeconomic diversity at both public and private colleges, increases degree completion, and benefits the overall economy.
Our colleges and politicians need to ensure that all students with financial need can attend without incurring debt.