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Senate Majority Leader not promising much for student loan bill

Student Loan Debt (courtesy of marketplace.org)
Student Loan Debt (courtesy of marketplace.org)

MADISON, WI (WTAQ) - The Wisconsin Senate's majority leader says he has doubts about a bill to let over 750,000 state residents refinance their student loans and get a tax break.

Republican Scott Fitzgerald was shaky about the bill's prospects, after it got strong support at a public hearing Wednesday.

Minority Democrats proposed the measure. Green Bay Senator Dave Hansen and Racine Representative Cory Mason said thousands of college graduates are being hurt by their student loans -- because it stops them from helping the economy by buying big ticket items like cars and houses.

The measure would let grads refinance their student loans and deduct up to $6,500 a year off their state income taxes.

A member of the Wisconsin Higher Education Aids Board said it might encourage students to borrow more than they already are.

(Story courtesy of Wheeler News Service)

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