California State University East Bay

The Pioneer

Fremont senator discusses student debt at East Bay

Photo Courtesy of CSUEB

Photo Courtesy of CSUEB

Kali Persall,
Managing Editor

Hang on for a minute...we're trying to find some more stories you might like.


Email This Story






Over 40 million Americans have student loan debt, Sen. Bob Wieckowski, D-Fremont, told Cal State East Bay students, staff and faculty at a presentation on campus on Wednesday.

From 12 p.m. to 3 p.m., Wieckowski spoke to under 50 attendees in the University Union’s Bay View room about SB 16, a new bill that aims to alleviate student loan debt by lowering the amount of money that private loan creditors can be garnished from student’s wages to the same as federal student loan borrowers.

According to Wieckowski, private student loan creditors can take 25 percent of a working students’ disposable income, whereas federal student loan borrowers can only garnish 15 percent.

Federal loan borrowers have several repayment options that make it easier to make loan payments on time, such as the right to receive a 30-day notice beforehand, to request and inspect copies of loan documents, to request a hearing and argue against garnishment and to negotiate a repayment plan with the loan creditor, according to Wieckowski.

Private student loan borrowers do not have any of these rights, as lenders aren’t required to offer different repayment options regardless of circumstance. The bill aims to change the private student loan process to mirror the federal.

The bill was introduced on Dec. 5, 2016. According to the office of the senator, the bill hasn’t yet been assigned a hearing date, but by February will begin to go through a series of hearings, until Sept. 15, the deadline to present to Gov. Jerry Brown.

Brown will have until Oct. 15 to sign the bill which, if passed, will go into effect on Jan. 1 2018.

Print Friendly

Leave a Comment




*

Navigate Right
Navigate Left
  • Fremont senator discusses student debt at East Bay

    Opinion

    Ramadan challenges, rewards

  • Fremont senator discusses student debt at East Bay

    Politics

    Trump Tracker: Pioneer updates on America’s president

  • Fremont senator discusses student debt at East Bay

    Arts & Life

    Oakland and graffiti art go hand in hand

  • Fremont senator discusses student debt at East Bay

    Media

    Bay Area professional baseball in full swing

  • Fremont senator discusses student debt at East Bay

    Arts & Life

    Hollywood is running out of ideas

  • Fremont senator discusses student debt at East Bay

    Campus

    Anthropology students dig deep for projects

  • Fremont senator discusses student debt at East Bay

    Metro

    It’s snake season for the Bay Area

  • Fremont senator discusses student debt at East Bay

    Opinion

    Despite perfect 12-0 playoff record, Cavs will beat ‘Dubs’ in seven games

  • Fremont senator discusses student debt at East Bay

    Politics

    Trump Tracker: Pioneer updates on America’s president

  • Fremont senator discusses student debt at East Bay

    Campus

    A new “CORE” for East Bay

California State University East Bay
Fremont senator discusses student debt at East Bay