Lawmaker: Arkansans Owe Billions in Student Loans
FAYETTEVILLE, Ark. -- As students get ready to hit the books, state representatives are starting a study of their own. It's been initiated by state representative Greg Leding of Fayetteville and looks at student debt.
He says the study will involve schools across the state and he hopes it will educate students before they draw loans.
"Alot," Austin Burkholder said when we asked how much he owed.
As school starts for thousands of college students, it's not hard finding one or two who are already in debt.
"About 50-thousand dollars," said freshman Dominic Bourgoin. He says it's "pretty devastating. It's a pretty big pile to dig up."
I've taken two loans already for this first year itself," said Burkholder. "It's mainstream but it shouldn't be like this."
According to state representative Greg Leding, Arkansas college students like Burkholder & Bourgoin owe a grand total of $9,000,000,000 in student loans. Leding says student debt is second only to mortgage debt in the country.
Leding says "there are a lot of factors here. Some of it is, student might be borrowing too much."
Representative Leding is spearheading a study with the Arkansas Higher Education sub-committee looking into Arkansas student debt.
http://www.ozarksfirst.com/news/lawmaker-arkansans-owe-billions-in-student-loans
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