Wis. student loan bill well-received at hearing

Posted Thursday, February 6, 2014 --- 9:57 a.m.

MADISON, Wis. (AP) -- A Republican leader in the Wisconsin Legislature says he has doubts about a Democratic bill that would allow more than 750,000 residents to refinance student loans, even though the bill got strong support at a Wednesday hearing.

The Wisconsin State Journal reports (http://bit.ly/1b595Rb ) the bill would allow borrowers to refinance loans at lower interest rates and deduct up to $6,500 annually on state income tax returns.

The bill's sponsors, Democratic Sen. Dave Hansen, of Green Bay, and Democratic Rep. Cory Mason, of Racine, say student debt hurts the state economy by hampering car and home buying.

But a Wisconsin Higher Educational Aids Board member says he's concerned the bill would promote higher borrowing for college.

And Republican Senate Majority Leader Scott Fitzgerald says he has doubts about the bill too.

Copyright 2014: Associated Press

Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
NBC15 615 Forward Drive Madison, Wisconsin 53711 Business: 608-274-1515 Newsroom: 608-274-1500
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 243981341 - nbc15.com/a?a=243981341