Wisconsin Governor Scott Walker Student Loan Debt Proposal
I don’t know what to make of this since Governor Walker’s proposal was made just as the general election started, but, he did propose a $5,000 tax relief for college graduates who stay in Wisconsin.
With the student loan crisis hitting an all-time high at $1.4 trillion and an issue with the younger voters who are likely to vote Democratic, Governor Walker’s idea if true, is at least a step in the right direction with helping out college graduates with a heavy debt burden.
Walker’s campaign even said if graduates owe less than $1,000 in state income tax, they would be able to claim the difference in cash. Sounds too good to be true.
Experts seem to believe that a tax break is not enough to keep graduates in Wisconsin, especially when compared to the national average, Wisconsin wages are low for college degree holders.
Democrat Tony Evers, Wisconsin’s Schools Superintendent and challenger to Governor Scott Walker, has supported an idea by Democrats where students can deduct loan payments from their state income tax or in the alternative, refinance the student loans through the state.
Personally, I believe we can’t avoid the crisis that is student loan debt and no doubt will have long-term affects on the economy. The question is are these talking points for Republicans or the real deal?
Alexander Hernandez, Esq.
Student loan debt is estimated at $1.5 trillion, and with the costs of education increasing, so will the national debt.
Student loan debt is increasing by as much as $30 billion each quarter and is predicted to hit $2 trillion by 2021.
This post has been updated.
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Alexander Hernandez has been representing clients since 1999 in the areas of bankruptcy, family law, and personal injury.
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