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Student Debt

Just weeks after receiving their degrees, college graduates are now dealing with a dual dilemma: struggling to find good-paying jobs in the worst economy since the Great Depression and coping with mountains of student debt. Students are graduating from Vermont colleges with an average of roughly $28,000 in student loan debt. Many students, however, are struggling with a debt load several times that amount and are feeling increasingly like modern-day indentured servants. Making matters worse, Stafford student loan rates are set to double on July 1. Heavy student debt loads are placing financial stress on Vermonters who are stretching their budgets to cover payments. Sen. Bernie Sanders is drafting comprehensive legislation that would reform how students pay for higher education. Bernie is also working with Sen. Elizabeth Warren, who introduced legislation that would ensure students are offered the same loan rates the Fed gives big banks on Wall Street: 0.75 percent.