House Bill 346 puts a band-aid on student loan cancer
Nobody is going to turn down a possible $10,000 – but can’t we get a little more creative than this when it comes to student debt? I mean, can’t banks take part somehow? They are probably eager to show off their civic-mindedness.
Von Morgan loves teaching music at Richardson Park Elementary School near Elsmere.
But with $68,000 of student loan debt bearing down on him, the 28-year-old says he is tempted to find higher-paying work elsewhere.
“I’m torn because I know these kids need me,” he said. “But I can’t help them if I can’t help myself.”
Morgan is exactly the type of teacher Gov. John Carney and state lawmakers are hoping to reach with a proposed student-loan assistance program targeted to educators at high-needs schools and those teaching high-demand subject areas.
First referenced in Carney’s January State of the State speech, a bill to establish the High Needs Educator Student Loan Payment Program was introduced last month by Rep. David Betz, D-Christiana.
“The idea is to offer an incentive for teachers to remain at high-need schools and teach difficult-to-staff subject areas where there tends to be a lot of turnover,” Bentz said. “It’s not a silver bullet, but I think it could be an important part of a larger effort to raise the quality of education where it is needed most.”
If passed by the General Assembly, House Bill 346 would authorize the state to make loan payments between $1,000 and $2,000 a year on behalf of each educator selected to join the program.
Teachers would be able to qualify for up to five years of assistance, putting the total potential value as high as $10,000.
“That might not sound like a lot, but it’s a lot more help than I’m getting now,” said Morgan, a Delaware State University graduate who is working two part-time jobs to help make ends meet. “Just the fact that the state would be trying to help would mean a lot.”
Tags: bentz, Student Loans
Higher education should be fully funded by the feds. It’s an attack on the nation when education is attacked and defunded
Government funded and guaranteed student loans shouldn’t come with an 8+% interest charge allowed and collected by banks that get their money to loan out at less than 1%. This is another banking scam allowed by both Dems and Repubs at the federal level.
Representative John Kowalko
Tuition for University should be free like in Germany.
and Norway…
and Finland…
and Sweden…
and Slovenia…
and France…
Too bad there is no mechanism for regulating banks.
hello, this is wonderful for teachers I am however a social worker for the STATE OF DELAWARE and have been for 10 years and would really appreciate the help also, I am 54 years old and see no end in sight with the student loans that I have, I have worked for the state for 10 years since I graduated college and still owe the same amount and have been paying on them regularly…… I applied for PSLF but they told me I had to start over as my loans were not consolidated….. UGH!!! please help
ELizabeth,
That’s a tough situation. Have you considered bankruptcy?
I’m not sure if that is feasible, but I can’t imagine that the Governor or Leg Hall is going to come up with anything any time soon.
Do you know what Senate and Rep districts you live in? It may be worth a call telling them about your situation to see if they know of any resources.
Unfortunately, those “government guaranteed” student loans are very difficult to liquidate in a chapter 7 BK, but not impossible. (You need to prove undue hardship.)
I’d recommend (if you don’t own real estate on which a lien can be placed) just don’t pay them. It’ll be a hassle, but if you’re up for it… fuck ’em.