New Mexico senator to propose bill that tackles student loan default rate
Jacob Candelaria
Sen. Jacob Candelaria, D-Albuquerque
Posted: Monday, November 10, 2014 7:00 pm | Updated: 11:39 am, Tue Nov 11, 2014.
New Mexico students struggle more than any other state in paying back their federal student loans, but a New Mexico state senator said he intends to introduce legislation that would help struggling borrowers.
Sen. Jacob Candelaria, D-Albuquerque, said Monday he would like to bring forward the Student Loan Debt Responsible Reduction Act during the 2015 legislative session. The bill, he said, would provide a state-based tax deduction for money spent paying off student loan interest. Candelaria said the deduction would work in tandem with a similar federal plan that helps student repay loans more quickly.
“The federal deduction program has been successful,” Candelaria said. “I think we can build on that success as a state. This problem is getting worse in New Mexico. It makes especially compelling for us to respond to this.”
Read more here: http://www.santafenewmexican.com/news/local_news/new-mexico-senator-to-propose-bill-that-tackles-student-loan/article_d02c8766-cc21-5c33-a779-5d8fdee85087.html