Oregon Senator Ron Wyden and Interim University President Robert Berdahl hosted a discussion about student debt and financial aid Wednesday morning. @@http://www.wyden.senate.gov/@@ @@http://uoregon.edu/findpeople/person/robert*berdahl@@
The discussion, which took place in the Knight Library, not only featured a panel of 15 University students but also representatives from the Office of Financial Aid and Scholarship as well as newly initiated ASUO President, Laura Hinman. @@http://financialaid.uoregon.edu/@@ @@http://www.uoregon.edu/findpeople/person/laura*hinman@@
President Berdahl opened the discussion with some brief opening remarks then introduced Senator Wyden.
Wyden, a graduate of the University Law School, began the discussion by speaking of the challenges that going to a four-year university entails.
“When I was coming up education was a big investment, but not as big as it is today,” Wyden said. “Your college education, for all you young people, is the second-biggest investment you’re going to make in your entire life, other than buying a house.”
Wyden also staunchly defended his stance against raising the national interest rate on student loans from 3.4 percent to 6.8 percent, which is an issue that will go through the Senate in July. @@http://www.staffordloan.com/stafford-loan-info/interest-rates.php@@
After his remarks, Wyden opened up the discussion to the panel of students. He engaged in an open conversation and participated in a back-and-forth exchange answering questions about the cost of college and what steps the federal government was taking to ensure that students would be able to afford going to a four-year university.
Brandon Morelli, who will graduate from the University in several weeks, addressed Senator Wyden and said that because of his outstanding student debts it is more feasible for him to move back in with his parents after graduation than to stay living independently. @@http://www.uoregon.edu/findpeople/person/Brandon*Morelli@@
“I’ll have about $25,000 or $30,000 of debt and the way that it’s really affected me is now in three weeks I’ll be a professional stay-at-home son,” Morelli said. “I’m moving back in at home so I can save money while I’m working and try to pay off those student loans.”
After the discussion came to a close, senior Bri Jarcho, one of the students involved in the panel, spoke on why the issue of student debt should be addressed more by the University as well as the government. @@http://www.uoregon.edu/findpeople/person/Bri%20Jarcho/65314@@
“I think it’s important because especially when students start, they’re really young,” Jarcho said, “We have 18-year-olds taking out a large amount of debt and I don’t think they’re really prepared with the knowledge they need to know what it means to take out a loan and know what it means to get an education.”