INDEPENDENT BUSINESSMAN GREG ORMAN ANNOUNCES COMMON SENSE STEPS TO SOLVE WASHINGTON’S STUDENT DEBT CRISIS, PROMOTE HIGHER EDUCATION AFFORDABILITY

INDEPENDENT BUSINESSMAN GREG ORMAN ANNOUNCES COMMON SENSE STEPS TO SOLVE WASHINGTON’S STUDENT DEBT CRISIS, PROMOTE HIGHER EDUCATION AFFORDABILITY

Higher Education is the Single Most Important Tool for Achieving the American Dream, but Partisan Politics has Saddled Students with $1 Trillion in Debt

Washington is Broken because Politicians are too Focused on Attacking Each Other Rather than Taking Common Sense Steps to Help Kansans

SHAWNEE, KS – Independent Senate candidate and businessman Greg Orman today announced his plan to get Washington working to curb the expanding student loan crisis with common sense accountability measures and consumer tools.

“Washington is broken because partisan politicians are more interested in fighting that solving problems like the student debt crisis that hold our nation back,” Orman said. “We’ve saddled a generation’s leaders and entrepreneurs with more than a $1 trillion in student debt because politicians aren’t willing to push back on Washington special interests.”

Since 1980 the inflation-adjusted cost of college tuition at public universities has tripled, and more than doubled at private universities.  We now have one trillion in student loan debt, up from just $350 billion a decade ago.

This massive debt load students face upon graduation is now preventing many of them from being able to start their own businesses.  That’s why the Kauffman Foundation recently noted that student loan debt was one of the top inhibitors to entrepreneurship and business creation.

Orman’s common sense college affordability plan includes:

  • Bringing accountability to higher education spending, and reforming student lending
  • Reducing the markup on federal student loans, to make them more affordable and reduce default rates
  • Applying the “CARD” Act to student lending, to protect student borrowers from unscrupulous lending practices
  • Enhancing the online tools for understanding college debt, so all students are able to make an informed decision about how they pay for school
  • Reforming collections practices, to put an end to abuses which make it harder for students to pay off their debts
  • And protecting our veterans from predatory lending

“I grew up in a family with five siblings and received free lunch at school as a kid, but I was able to take out student loans, receive an outstanding collegeeducation and learn the skills I needed to form a foundation for a career in business,” Orman said. “The college debt crisis makes people less likely to do the things that help the economy grow like starting a business, buying a house. There are common sense solutions to the debt crisis, but Washington has not been willing to take them on.”

View Orman’s complete plan at http://www.ormanforsenate.com/college_affordability_plan

For more information about businessman Greg Orman and his Independent campaign for U.S. Senate, please visit the campaign online at www.OrmanforSenate.com. For media inquires, please contact our press office at press@ormanforsenate.com, or call at 913-730-6243.

 

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