Minnesota lawmakers want to tackle student debt stress

Minnesota lawmakers want to tackle student debt stress

Six.

I'm katie lange.

And i'm george mallet.

First tonight: education leaders in minnesota say looming student debt is causing widespread stress as covid?

"*19 impacts the finances of borrowers.

That's according to data from a recent poll conducted by morning consult... education minnesota... and the center for responsible lending.

The poll found three?

"* quarters of minnesota borrowers are stressed about their student loans.

Kimt news three's anthony monzon joins us live with how some state lawmakers want to address the issue.

Anthony?

Well katie and george... payments on federal student loans have been paused until september because of covid?

"*19... but almost one?

"*in?

"*three minnesota bo who responded to this poll says once they resume they're not confident they'll be able to make their payments.

46?

"*percent of borrowers repot a loss of income during the pandemic... and 59?

"*percent sy they'd have trouble paying an unexpected expense or are behind in their finances.

Organizers say results also indicate loan providers are not providing crucial information to help borrowers manage their payments.

Now state lawmakers are considering a so?

"*called student borrower bill of rights that would increase oversight of student loan servicers.

Minnesota high school teacher sarah spleiss has helped work on the bill... and believes "it would eliminate the little manuevers that these institutions take on knowing that if the borrower doesn't understand it, they gain.

They get all of that interest.

They make all of that money off that one person."

And spleiss actually built up close to 150?

"*thousand dollars of student debt.

She now teaches english and college prep... and says it's difficult not to deter students from attending their dream school because of tuition costs and stagnant wages.

Live in rochester... anthony thank you anthony.

While neither legislative chamber has scheduled a vote on this borrower bill of rights yet... the morning consult poll found the vast majority of respondents support major reform in