Colorado Bill May Cover Student Loan Debt
A "Get On Your Feet" bill in the works.
Students who qualify would have 2 years of their monthly student loan payments covered, in full, by the state of Colorado. According to Denver Post, this is for students who attend one of Colorado's public colleges and can commit to staying in the Coloradan work force after graduation.
More than 761,000 Coloradans are repaying $27.7 billion in student loan debt, according to household debt statistics from the Federal Reserve Bank of New York.
The Colorado Department of Higher Education reported in 2018 that 69% of Colorado students graduated with a Bachelor's degree and left school with average $25,500 of debt.
Charley Olena, an advocacy consultant with the left-leaning organization New Era Colorado, told Denver Post, “The total percentage of people under 30 who own their businesses has fallen about 65% since the 1980s. Millennials were overwhelmingly citing student loan debt as the thing holding them back from starting their own business."