May 19, 2013

Warren asks the nation to focus on student loan crisis: New Bedford Standard-Times Column

By Jack Spillane

Anyone who thought Elizabeth Warren was not going to bring to the Senate her insightful analysis of the nation's economic problems now knows that they were more than wrong.

Warren's first piece of standalone legislation takes square aim at the crushing student loan debt that's crippling a generation of millenials, and the adverse effect on the national economy when a whole cohort of the populace is boxed out of the consumer game.

Warren's proposal last week to reduce student loan interest rates, for a year, to the same low rate (.75 percent) that the Federal Reserve lends for short-term loans to big banks has elicited 250,000 signatures from in just a few days. Many of the signers are young people who've seen their chances of living the same middle-class lives as their parents bound up early and hard with school loan duct tape.

Read the full column here.