‘Higher Ed, Lower Debt’ bill gets hearing in Madison

Remember the bill introduced by state Sen. Dave Hansen in a news conference last fall at the Cofrin Library? That proposal, called the “Higher Ed, Lower Debt” bill, would create a new state authority that would offer up to 763,000 Wisconsin residents a chance to refinance their college loans, and allow borrowers to deduct up to $6,500 in student loan payments yearly on state income tax returns. Hansen’s bill got a hearing in Madison earlier this week. Most who testified said action is needed, but others questioned the cost to the state and whether anything that would have the indirect effect of encouraging even more student borrowing will prove wise in the long run.