There’s no question that student debt affects a significant number of Virginians each year. Beyond increasing an individual’s financial burden, student debt negatively impacts the Virginia economy. According to studies conducted in the past three years, people with student debt are less likely to buy a home, start a new business, or save for retirement.
Below are some graphics that depict some of the impact of student debt, as well as information on the tuition increases in recent years. Virginia universities must work to decrease the amount of debt for their graduates. I’m working hard to introduce and sponsor bills that would alleviate student debt by reducing tuition for Virginia students.