In Ashland, Stories from Students, Parents and Educators Animate McCaskill Discussion on College Costs

Press Release

U.S. Senator Claire McCaskill today heard directly from students, educators, and families on the need for more affordable, accessible higher education as she held a roundtable discussion at Southern Boone School District.

The event was part of McCaskill's College Affordability Tour across the state this week. In discussions with students, recent graduates, families, educators, and experts, McCaskill outlined broad goals for curbing rising college costs and ballooning student loan debt.

"We have a crisis in this country, and we're seeing it in the incredible load of student debt enveloping our families," McCaskill said. "What student loan debt does is diminish our economic growth."

"Hearing directly from Missouri students, parents, and educators will help shape my work in Washington on much-needed reforms to our Pell grant and loan refinancing systems, on transparency and accountability for institutions, and on incentivizing higher and faster graduation rates so we can better help Missouri students and families succeed," added McCaskill, who worked as a waitress and took out student loans to help pay her way through college and law school at the University of Missouri. "I had the valuable opportunity today to speak to so many Missouri students who are doing everything right--working hard to get into good colleges--but who are going to be strangled by debt for years after they graduate."

McCaskill heard from students on the importance of parents or teachers helping them navigate the college loan process, with one student saying, "I wouldn't be able to navigate the FAFSA if it weren't for my dad, and a lot of my friends don't have that kind of support." On the exorbitant cost of schooling, McCaskill heard from a student from nearby Battle High School, who said she wanted to go to veterinary school, but when she saw how much it would cost, started looking overseas.

McCaskill policy goals include:

Refinancing options for graduates with student loan debt -- allowing students to refinance their loans at a lower rate, the same way it can be done with a home mortgage.

Pushing institutions to improve graduation rates -- currently, a significant portion of debt comes from students who drop out or take more than five years to graduate.

A boost to Pell Grants by indexing them to inflation to ensure that they increase as the cost of tuition rises; make them available for more of the year--including summer semesters--rather than in only two academic semesters.

Stronger accountability and transparency for institutions, so families and students know exactly what they will need to pay at each institution, as well as key information about the education provided at the schools, so students and parents can comparison shop.

Resources to continue federal funding for critical job training programs -- which are slated to run out soon. Missouri has benefited from more than $50 million in these funds, which are directed to community colleges to design education and training programs. The programs work closely with employers and industry that prepare workers for jobs in-demand in their regional economies, such as health care, information technology and manufacturing.

Fixes to the 90-10 rule, which would include federal assistance for military personnel and veterans in the 90% cap in student aid funding at for-profit schools, to protect veterans from scams.

At Southern Boone Elementary, McCaskill discussed her proposals to boost Pell grants, including by making them available for more of the year, and on increasing transparency in student loan programs so students and parents can make informed comparisons. McCaskill also called into question elected officials in Jefferson City for threatening cuts to higher education when they should be finding ways to increase college accessibility and affordability -- a fiscally responsible policy for Missouri in the short and long term.

According to the Institute for College Access & Success, the average debt for a Missouri graduate of a public 4-year institution or private non-profit 4-year institution is $25,844, the proportion of Missouri graduates from those institutions with debt is 59 percent. Missouri ranks ‎33rd in the nation in terms of how much debt students graduate with and 31st in the nation in terms of how many students graduate with debt. McCaskill, along with several of her Senate colleagues, wrote a joint letter to U.S. Education Secretary Arne Duncan last year highlighting the issue of college affordability.

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