WXXI AM News

STUDENT DEBT

In his 2018 State of the State address, Governor Andrew Cuomo announced a proposed series of reforms to help relieve loan debt for college and university students in New York State. Student loan debt accounts for 10 percent of debt balance in the U.S., making it the second highest category of loan debt after mortgage debt. In New York, the average student loan debt total is more than $30,000.

This hour, we discuss the governor’s proposed reforms and their potential impact on students. We also discuss the importance of financial literacy with our guests. In studio:

  • Chuck Wade, vice president and financial adviser, Brighton Securities
  • Bianca Bishop, health care integrator at Hillside Family of Agencies
  • Shadi Kafi, attorney, former teacher and administrator, and aspiring author

WIKIPEDIA

 

Second year college student, Valerie Hacker, has lost more than 200 course credits that she will never get back. Her hopes for a brighter future vanished last April after Corinthian Colleges, Inc. abruptly announced it would close all remaining Everest Institute locations across the country.

"I had to leave school early on a Tuesday because my father had fallen down and died of a heart attack while I was in class. Saturday I get the email saying that Everest is closing, so I’m like, 'You gotta be kidding me!'" says Hacker.