Generation Progress is out with 50 fact sheets—one for each state—on the effects student loan refinancing would have on indebted residents.
Each fact sheet includes national and state-specific student loan statistics, including the average debt load for 2012 bachelor’s degree graduates ($29,400), how many indebted residents live in a particular state, and the state’s total student loan debt.
Each fact sheet also includes a list of the state’s senators, and how each voted on Sen. Elizabeth Warren’s Bank on Students Emergency Loan Refinancing Act (S.2432), which would have allowed certain qualified borrowers to refinance their federal and private student loans at today’s interest rates. The sheets prominently display how many borrowers in each state would “benefit” from the legislation (although they don’t appear to readily define “benefit”). In California, for instance, 4,036,000 state residents carry student debt, and 2,328,000 of them would benefit from the chance to refinance to current rates, according to Generation Progress.
The organization, which was known as Campus Progress until last month, is a think tank that works in conjunction with the Center for American Progress. It has compiled a variety of student loan refinancing resources and has also taken the conversation to Twitter, using #ItsOurInterest.
Publication Date: 8/27/2014