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NBC 26-Augusta - Congressman Barrow Talks Student Loan Debt At GRU

News Article

Location: Augusta, GA

By Corey Bachman

At Georgia Regents University Tuesday, Congressman John Barrow held a forum to discuss alternatives to prevent students from digging deeper into debt.

He says the weight of student loan repayment is crushing borrowers.

"When you consider that students borrow more money and owe more debt for student loans than they do consumer debt in this country, it gives you some idea how staggering this figure is," added District 12 Representative John Barrow.

Barrow recruited financial experts to help students learn ways to save money, stay out of debt and plan for the future.

And in Washington, his plan has been just that.

"I'm proud to have been a part of the team that actually cut the rate of student loan interest on the loans that folks take out for higher education in the last few years," he said. "The last thing we need to do is be increasing that again."

Barrow adds getting a handle on your budget now will only make things easier in the future.

"There are lots of ways in which you can pay over the long haul for not managing your finances really well at the very beginning of your credit history."

Consumer Credit Counseling Services Manager Kate Mielitz was on hand to assist students.

She adds college is the best time to know how to manage your finances.

"Your financial future is yours. So, take it and practice it the right way so that when you use it, it's going to be where you want it to be and you're in control of your money, rather than your money telling you what to do," also said Mielitz.

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