Common Council approves resolution for fed. legislation on student loans
MILWAUKEE — Milwaukee’s Common Council Tuesday, May 22nd approved a resolution urging Congress to pass federal legislation regarding student loans.
The Common Council resolution urges federal legislation that will limit student loan interest rates, create new loan forgiveness provisions and convert borrowers’ private loans to federal loans.
The primary sponsor of the resolution was Alderman Joe Davis, Sr.
Davis said in a statement Tuesday: “As a body, the Council recognizes the importance of student loans for those pursuing higher education. The 2012 graduates with loans owe an average of more than $25,000, up 5% from the year before. Those numbers are huge and are only increasing, and that’s why we need Congress to do the right thing.”