For Immediate Release
September 2, 2014
Sue Walitsky, 202-224-4524 (CARDIN)
Matt Jorgenson, 202-228-1122 (MIKULSKI)
*** MEDIA ADVISORY ***
FAIR SHOT: Cardin, Mikulski to Hold Roundtable Discussion at UMBC with Students to Talk About Rising College Costs
President Freeman Hrabowski to join UMBC students for an overview of financial burden facing Maryland families
Thursday, September 4 at 2:00PM, U.S. Senators Ben Cardin and Barbara A. Mikulski (both D-Md.) will join students and university officials from University of Maryland, Baltimore County (UMBC) in a roundtable discussion on the many challenges Maryland students face in paying for higher education. As prices at public four-year institutions rise at unprecedented ratesand U.S. student loan debt balloons to roughly $1 trillion – a sum larger than Americans’ total collective credit card debt – the senators are committed to finding new ways in Washington to make college a more attainable prospect for a greater number of Maryland students.
WHO: U.S. Senator Ben Cardin
U.S. Senator Barbara A. Mikulski
UMBC President Freeman A. Hrabowski III
WHAT: Roundtable Discussion on College Affordability with UMBC Students and School Officials
WHEN: Thursday, September 4 at 2:00PM
WHERE: University of Maryland, Baltimore County
Albin O. Kuhn Library, Room 767
1000 Hilltop Circle, Baltimore, MD
HOW: For more information or to RSVP, media should contact Sue Walitsky[email protected]
Seven out of ten college seniors who graduated in 2012 graduated with an average of $29,400 in student loan debt, and more than 40 million Americans today owe almost $1.2 trillion in student loans – more than is owed on credit cards. In Maryland, more than half of graduating students are borrowing to pay for their education.
Senators Cardin and Mikulski have joined forces to ensure all students get a fair shot at a quality higher education that does not leave them or their family overburdened in debt. Both senators are cosponsors of the Bank on Student Emergency Loan Refinancing Act (S. 2292), which would allow those who currently hold student loan debt to refinance it at lower interest rates. Senators Cardin and Mikulski also have supported legislation to amend the Higher Education Act of 1965 to increase the financial information available to students before utilizing student loans. The ultimate goal is to help students and their families to make informed financial decisions.