Welch To Collect Student Debt Stories

04/30/12 6:06AM

AP/Toby Talbot
Ann Nguyen talks with Rep. Peter Welch at the University of Vermont on Monday.

Representative Peter Welch is going to be compiling stories about student debt.

Welch launched the initiative to compile stories Monday at the Davis Center at the University of Vermont.

In Vermont, almost 70 percent of college graduates have an average of $30,000 in debt.

Student debt is topping $1 trillion dollars, exceeding credit card debt.

Legislation in Congress to prevent the rate on federally subsidized student loans from doubling for one year passed in the House on Friday. President Barack Obama has promised to veto the bill because it covers the $6 billion cost by eliminating preventive health care funding provided under the Affordable Care Act.

 

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