I am writing to express my concern regarding the lack of financial education for college students. I am a graduate student at Eastern Washington University, facing an excess of $20,000 in debt when I graduate this June for just two years of a postgraduate degree (that is not counting debt from my undergraduate degree). I wish I knew more about the weight of student loans before signing my financial future away.
Between 2004 and 2016, student loan debt in the United States nearly tripled and the current debt has exceeded $1 trillion. The reality is that student debt is crippling for young people. According to research by The American Institute of CPAs, only 39 percent of students fully understood the burden student loan debt would have on their future.
I urge your readers to contact their legislators asking them to vote in support of Senate Bill 5100, which will require institutions of higher education in Washington state to provide financial education to all students. Readers can find their legislators and contact information at www.leg.wa.gov.
Megan Tucker
Spokane
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