State Sen. Klein announces plan to help alleviate student debt
State Sen. Jeffrey Klein announced a seven-point plan Thursday to alleviate student debt for graduating college students, as well as help future students pay for college.
Earlier this year, Gov. Andrew Cuomo proposed a plan that would lower tuition at state colleges. Sen. Klein says he wants to help both state and private institutions.
The proposal would include allowing students to refinance student loans, prohibiting loans from negatively affecting credit scores and establishing a prepaid college tuition.
A survey conducted by the Independent Democratic Conference found college students are not prepared to pay for college and many worry about how they will pay off their loans upon graduation.
"Students graduate with tens of thousand dollars in debt and I think this legislation will alleviate that," says Sen. Klein.
The seven-point proposal will be presented in the next budget hearing. If passed, students would begin to take advantage of the relief as soon as January 2017.