Sen. McCaskill voices concern about student-loan debt

American college students face mounting federal-loan debt that leaves many of them struggling to pay their bills.

“In my opinion, we have a crisis,” U.S. Sen. Claire McCaskill, D-Mo., said during a visit Wednesday to Cape Girardeau.

“If we don’t stop this trend, higher education is going to be just for a small part of America, instead of for anybody in America who has a dream,” she said.

College debt prevents many of today’s college graduates from buying homes, the senator added.

McCaskill favors legislation that would allow people to refinance their federal, student loan debt at lower interest rates as is the case with private loans.

“To me, it is common sense,” she said.

According to the U.S. Department of Education, the move would benefit more than 500,000 Missouri students.

The Institute for College Access & Success says the average debt for a Missouri graduate of a public, four-year school is $25,844. Nearly 60 percent of Missouri‘s college graduates come out of school with debt,

“One of the reasons we have a problem in Missouri is that our legislature decided that funding higher education is not a top priority. We fund higher education in Missouri at 20 percent below the national average.”

McCaskill said, “Every time the state legislature cuts higher education funding, it is costing people who go to college more money.”

The Democratic lawmaker said Congress likely won’t pass a higher-education funding reauthorization bill until next year.

The senator voiced her comments during a visit to Southeast Missouri State University’s Catapult Creative House on Broadway, where she met with students and campus staff from the university and Three Rivers College.

Tuition, fees and room and board charges climbed from $8,543 to $19,548 a year for public, four-year colleges from 1985 to 2016, according to the national College Board.

At the meeting, Southeast freshman Tayler Sims of Belleville, Illinois, decried the high cost of a college education. He said he decided to enroll at Southeast because it is less expensive than public schools such as the University of Kentucky. Still, he said he hopes “we can find ways to make college cheaper across the board.”

McCaskill said high-school students need to learn about student loans in high school as part of a personal finance course. That topic is not discussed in Missouri high schools, she said.

Speaking to reporters before the meeting, McCaskill commented on the U.S. Supreme Court vacancy and her health.

As a result of the death of Justice Antonin Scalia, the high court deadlocked 4-4 Tuesday in a Missouri case involving failed bank loans.

“Yesterday’s deadlocked case is a stunning illustration of how the Supreme Court vacancy is doing real damage to this country’s legal institutions,” she said.

She criticized the Republican leadership in the Senate for refusing to hold a hearing and take a vote on President Barack Obama’s nominee.

“There is no precedent for this,” she said.

McCaskill, who recently underwent treatment for breast cancer, said she feels “great.” She added, “My prognosis is very good.”

The senator said she appreciated all the messages of support.

“Literally thousands of Missourians reached out to me with love and prayers. Even the haters on my Twitter feed were being nice and offering their support and uplifting me.”

mbliss@semissourian.com

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