The Cost Of Student Loan Debt
Last week several bills were heard in the House Higher Education Committee relating to student loan debt and the loss of professional license when someone can't pay.
Right now, under current state statute, people who default on their student loans are at risk of having their professional licenses revoked. This is a problem when you consider that the costs of earning a college education have been on the rise and that as recently as 2017, 55% of students graduating from a four-year university graduated with some form of debt.
Who are some of the people who can be impacted? Teachers, nurses, social workers, counselors and many others who require a professional license to work, to earning a living so that they can provide for themselves and their families, let alone make these student loan payments.
"Since the law was enacted in 1990, professional licensing organizations annually provide a list of licensees to Trellis, the organization that handles Texas student loans. Trellis then returns a list of licensees in default. Licensees must then enter a repayment agreement with Trellis, or they cannot have their licenses renewed. Prior to denying renewal, state law requires that the licensing agency have a hearing with the licensee. Still, reports indicate that 530 nurses and 250 teachers had their renewals denied for student debt default over a five year period.
Considering that a Brookings Institution report found that almost 40 percent of students who entered college in the fall of 2003 may default on their student loans by 2023, it is clear that this law will negatively impact a significant number of Texans."
ACTION for 3/5/2019:
Send a message to the Texas House committee on Higher Education and support HB 218, HB 258 and HB 466! The committee is scheduled to meet again on Wednesday this week so the sooner you send your email off to committee members, the better.
Then, send a message on to your representative and urge them to support legislation that fixes a law that impacts people struggling with student debt from earning a living and maintaining their professional license to do so!
Use our ready to go form below!