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Rob Zerban is a small-businessman running for Congress against Paul Ryan

Paul Ryan's Failed Leadership on Student Loans: Soaring Costs, Dwindling Futures

163,427. 24,627. 9.

That’s the number of Wisconsin students with loans in the upcoming school year (163,427), the average student debt for Wisconsin students ($24,627), and Wisconsin’s ranking of students graduating with student debt (9).

But there are other numbers that matter just as much – 6.8 and 128,435,544.

On July 1, unless Congress acts immediately, interest rates for students will double to 6.8%, increasing interest payments by Wisconsin students at the new rate from just one year of borrowing to $128,435,544.

These sobering numbers are the latest evidence of Congressman Paul Ryan’s failure to ensure affordable access to higher education for students in Wisconsin and around our country.

In addition to pushing for student loan interest rates to double on July 1, Congressman Ryan authored a budget that reduces both the number of Pell Grants available to students as well as the loan amount itself. While House Democrats offered a solution by keeping interest rates at 3.4% by closing loopholes used exclusively by Big Oil, Paul Ryan and House Republicans refused, once again putting their major campaign contributors ahead of American families.

According to his recently released financial disclosure statements, while Congressman Ryan’s plans to double the interest rates from 3.4% to 6.8%, two of his own children will be spared. The statements show that Congressman Ryan has invested in educational savings accounts for two of his three children, worth up to $350,000. That’s enough to pay undergraduate tuition at the University of Wisconsin-Madison for 30 years. How many other Wisconsin families can do that?

At a town hall event last year, Congressman Ryan told a district student that he should work three jobs while attending school and take out private loans to go to college. Congressman Ryan showed once again that he simply doesn’t understand, or worse – doesn’t care about – what families here in Wisconsin are facing.  

The only way many students, myself included, afford a higher education is through programs like Pell Grants and Stafford Loans.  I understand intimately how important these programs are – they were the only way I was able to get an education,  go on to own two small businesses and live my version of the American Dream.

I grew up in a poor family and while my mother worked hard to keep the roof over our heads, sometimes it wasn’t enough. I knew that I wanted to be my own boss and that I needed an education to do that. Because our government gave me a hand up – not a hand out – I was able to go on and start two small businesses. Running these companies gave me real-life budgeting experience, unlike Congressman Ryan. I had to write responsible budgets that balanced benefits and the bottom-line. I took care of my employees, they took care of me and together we took care of our customers.

If we allow Congressman Ryan to continue to make it more difficult for young people to get a higher education he will stall our economic recovery as fewer future small business owners and entrepreneurs will be able to live their version of the dream like I did.

JJ Racine

3:03 pm on Wednesday, June 27, 2012

Thanks for making me hope even more that Paul Ryan isn't picked for the VP spot because we need him to stay in his seat to keep out someone like you! Grants are a hand out, a generous option for some, but a hand out never the less. I was the very young child of a single Mother who not only made sure I was cared and provided for, (did I have the best of everything? certainly not, thank god because I see what happens to the people who are given everything... they get an overinflated sense of entitlement like it seems you have), worked a full time job often with overtime and went to college full time. She got a good job and I was graduating high school before she paid those loans off but I never heard her complain about it, not once. Going to college is not a right, it's a choice and a privledge and yes one that you have to pay for and not everyone is going to have the same opportunities in life, deal with it. I myself am now in my 30's with only a high school diploma and planning to start college in the spring, I wasn't interested in owing money for so many years and chose a different route of working and waiting until I could get myself into a good enough job that would afford me the pay and generous tuition reimbursement program to make it possible - but I worked and waited for it with patience. I bet you've paid more interest on nice cars that you didn't really need in your life and didn't complain about like this. We all have to live with the choices we make, bottom line

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Bren

4:44 pm on Wednesday, June 27, 2012

JJ, if your mother was low income there's a very good chance that she received some form of tuition assistance to attend college. As a tax payer in a country with a government designed to serve the needs of all citizens, your mother deserved tuition assistance and so do you. It's not a handout when you are a taxpayer or your parents are taxpayers. Don't be fooled by Paul Ryan's lies for one moment.

As Mr. Zerban points out, Mr. Ryan's very comfortable government employee income allowed him to invest in college savings accounts for his children. Mr. Ryan overall seems very comfortable taking programs away from people--as long as they don't impact him. He has a comfy government pension and healthcare waiting for him, so he's fine with taking Social Security and Medicare away from others--no skin off his nose. His kids are set for college thanks to his taxpayer-paid salary, so what does he care if others have to struggle.

Stop thinking of programs you have earned as "entitlements." Folks like Paul Ryan want you to believe that so they can privatize these services to fatten the wallets of their corporate benefactors. You chose to work and now you have may have earned some college grants in addition to low interest loans (which will hopefully continue). You have also earned unemployment compensation if you lose your job. You earned them. They are not entitlements!

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CowDung

4:54 pm on Wednesday, June 27, 2012

Bren:

Don't be fooled by Mr. Zerban's lies for one moment. Ryan isn't trying to raise the cost of college for anyone--Ryan has voted to extend the low interest rates. The bill passed the House, but the Senate Dems blocked it with a filibuster...

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Steve ®

4:54 pm on Wednesday, June 27, 2012

Bren, it's people like you that are going to turn the USA into Greece. The ballooning out of control dept because you want to sell people that they deserve something are are entitled to it is the problem.

There is not enough tax revenue to pay for all of this. You are entitled to nothing but a balanced budget. You don't even come close to paying enough in taxes to pay for what you take. You can thank the rich and businesses you demise so much for that luxury which is now vastly overspent.

Folks like Paul Ryan are trying to tell you it's going to come to an end here fast unless we do something now. And you stand there with your fingers in your ears saying la la la la la evil corporations la la la la ALEC la la la

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JJ Racine

8:51 pm on Wednesday, June 27, 2012

Bren - Yes, we were low income but some people still take pride in doing everything they can to take responsibility for themselves and not taking a hand out just because one is available. I do believe having social programs is needed in some cases and am happy to help provide for that... However I'm not happy to provide to people who take-take-take just because they can, think they should be able to jump ahead on the road to success without paying their own way or otherwise abuse the system (for which there are endless examples).

But from your own words we have a conflict at the core of our values and beliefs... You think the government is "designed to serve the needs of all citizens"... We must use a different definition of what true needs are and you apparantly want a socialist government which in fact is NOT how our government was designed. What I have earned is the paycheck I receive each week.

You're right, Paul Ryan has a comfortable salary paid to him by his job in our government to which he was elected by the citizens. If you or anyone else would like the pay, responsibility and public intrusion of both your life and that of your family you are free to apply during the next election cycle. Good Luck!

Greg

3:24 pm on Wednesday, June 27, 2012

So this guy wants to tie student loans to big oil? Something smells here and I need to do a little more research.

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Greg

4:13 pm on Wednesday, June 27, 2012

Just as I thought, nice spin Zerban. The current stick in the spokes is the Democratic-dominated Senate. This has no effect on the majority of Wisconsin students, present or future.
http://www.cbsnews.com/8301-505247_162-57426120/student-loans-101-the-interest-rate-uproar/

CowDung

3:25 pm on Wednesday, June 27, 2012

Mr. Zerban:

You do realize that back in April, Paul Ryan voted 'yes' on bill HR 4628 to extend the low interest rates for student loans, don't you?

http://www.opencongress.org/vote/2012/h/195

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Steve ®

4:30 pm on Wednesday, June 27, 2012

We need to be lowering the cost of these public liberal education houses, 8%+ increases year after year is way above anything in the real world.

6.8% does not seem unreasonable to me it was at this rate just a few years ago. We're broke if you haven't noticed, stop the free handouts now.

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Greg

4:35 pm on Wednesday, June 27, 2012

This putz is not a "small-businessman", he is on the Kenosha County Board. Why does he feel the need to lie? Do these politicians think we are really that stupid?

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Satori

4:57 pm on Wednesday, June 27, 2012

You're right. He should have put "past small business owner", but he was in fact a small business owner. No need to thank me for the clarification.

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Greg

8:15 pm on Wednesday, June 27, 2012

Former, past, retired... But that doesn't suit his intended purpose.

Heather

5:52 pm on Wednesday, June 27, 2012

Failed business owner is more like it....research the demise of his famous start up company(s)

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trealight2

6:33 pm on Wednesday, June 27, 2012

its sad to think that people would rather spend unlimited amounts of money on failed foreign policies and military intervention (Pentagon budget near $1trillion) than support their own best interests. Providing universal health care would increase entrepreneurial enterprises because, much like me as a small business owner, most people are willing to take risks on their own health to get a business off the ground, but not their children's health. But perhaps increased competition is not what large, established businesses want.... Imagine that! Most people work tirelessly to see their children/grand-children thrive, only to have to choose between 1) paying to address life-threatening illnesses (or prevention of such) and spending down all of their savings (children's inheritance) and surviving to see their family struggle, or 2) not treating illnesses and dying. Sorry, tough luck! Welcome to civilized USA- the richest country in history... Free tuition w/strict entrance/performance tests, free health care for all, rational military budgets, strong/diversified economies. Alright!

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Greg

8:20 pm on Wednesday, June 27, 2012

So you support Paul Ryan.

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jukap29

3:51 pm on Friday, June 29, 2012

freedom ain't free, nothing in life is free, in America when something is free the greedy take and take and take

on both sides of the aisle

Johnny Blade

7:01 pm on Wednesday, June 27, 2012

Government is NOT the answer .. Why is tution so high?? Student loans that is why!! when you give people easy money the colleges charge more and overpay thier facilty ... Why don't you research how the costs of college skyrocketed when the government got involved ... I don't want to spend unlimited amounts of money on the military industrial complex .. but i dont want to support YOUR best interests either ... why can't i keep what i earn, instead of you digging in my pocket

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Brian Dey

8:09 pm on Wednesday, June 27, 2012

Mr. Zerban: First of all you really need to understand the difference between sate and federal roles. With that said, why is it my responsibility as a taxpayer, for someone else's decision to expend money for their own self improvement. As far as I know, the Constitution (you may actually want to read it) doesn't guarantee everyone higher education.

As a matter of fact, we have an over abundance of degreed citizens out of work because there are no jobs in their field. Somehow we have created a generation of everyone thinking they have to go to college to be successful, yet all the job openings seem to be in the trades. Those employers can't find the bodies to fill the positions.

So if you think that it is my responsibility to afford someone else's success, than you are completely out-of-touch. Judging from some of your other ideas, I think I'm not that far off on my assessment.

Just come out and say it; you want to tax us more so you can buy votes from those that think government is there to make their lives easier. Just like Barrett, you won't because you know that will blow any chance you have (not that you really have one).

That is the difference between Paul Ryan and a wannabee like you. He actually has a plan, and even though it is not poular with the freeloaders, he will stand by it. You on the other hand, have a plan to raise taxes, and can't own up to it.

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GearHead

8:18 pm on Wednesday, June 27, 2012

Really, Rob? High student loan costs have everything to do with bloated UW costs, and nothing to do wi th interest rates. Higher Ed has everything to do with waste and idiotic curriculum; be brave enough to take that on, or let the rest of us adults REFORM it.

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SkinnyDude

8:20 pm on Wednesday, June 27, 2012

Wouldn't Failed leadership be NOT having a plan? Liberals are fighting for the failed status quo. It takes Leadership to step up to the plate and put something on the table. Unfortunately, the Dems believe in Insanity as a platform . And if that wins the country is SUNK! This guys plan looks a lot like Tom Barrett. Be against a person without and ideas of your own. Ryan wins EASY!

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Bill Folk

11:14 pm on Wednesday, June 27, 2012

Loved your Democratic talking points Mr. Zerban. Also love how you conveniently left out that the House has already passed an interest rate reduction bill that Paul Ryan supported.

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Bill Folk

11:14 pm on Wednesday, June 27, 2012

From Congressman Ryan’s web site-
“H.R. 4628 – Interest Rate Reduction Act
In January 2007, Democrats chose temporary relief over lasting solutions on college costs. In an attempt to fulfill a campaign promise, the new House Democratic majority passed legislation to phase-in reductions to interest rates on certain student loans. Under that law, students with certain loans issued for the 2011-12 school year received a 3.4% rate. This rate was only in effect for one year and is scheduled to return to 6.8% in July 2012. Because students should not pay the price for the failures of those congressional Democrats who structured the law as they did, with a sudden expiration date and no plan for what might come next, the current House Republican majority passed H.R. 4628, which extends the 3.4% rate for another year and pays for it by reducing a slush fund in the President’s health reform law- a fund that the President has suggested cutting in both his Fiscal Year 2013 Budget and his September 2011 deficit reduction proposal. Moreover, House Republicans have presented the President with two additional proposals to pay for a one-year extension of the interest rates with policies that have had bipartisan support in the past. I remain hopeful that the Senate and the President will take action on H.R. 4628 so it can be signed into law prior to the July 2012 deadline.”

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Bill Folk

11:15 pm on Wednesday, June 27, 2012

Here is some additional information on what Paul Ryan really thinks (less the liberal talking points of course)-
http://paulryan.house.gov/News/DocumentSingle.aspx?DocumentID=296286

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trealight2

3:51 pm on Thursday, June 28, 2012

This document/link just spins rhetoric- can you direct me to a step by step plan that isn't in legal lingo? - (ie ... not H.R. bill ...but a legible narrative.)

Avenging Angel

9:31 am on Thursday, June 28, 2012

Why is the cost of a college education so high, Mr. Zerban? Answer that question, and the solution becomes easy.

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Avenging Angel

9:33 am on Thursday, June 28, 2012

BTW, I think it is quite appropos for a Democrat to be named "Rob".

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James R Hoffa

5:14 pm on Thursday, June 28, 2012

How many LIES about Ryan can Zerban pack into a single article while offering no solution/plan/vision/platform/agenda of his own?

Did Zerban miss the Walker recall election, as such a campaign strategy completely failed Barrett and was rejected by the people of Wisconsin en mass!?!?

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Greg

8:49 pm on Thursday, June 28, 2012

Zeban just proposed a monorail to go from the Kenosha Co. Airport to the dog track..

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CowDung

3:56 pm on Friday, June 29, 2012

Now that's something that I can support. There's nothing on Earth like a genuine, bona-fide, electrified, six-car monorail!

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Greg

4:32 pm on Friday, June 29, 2012

If you build it, they will come.

Tansandy

6:34 pm on Thursday, June 28, 2012

Mr Zeban, would you like to refute any of the statements that make you look totally out of touch? Testing, testing, testing, Mr Zerban, are you still here??????

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Muskego Mike

6:34 am on Friday, June 29, 2012

The world needs ditch diggers too - Judge Smails

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Doug Judy

3:22 pm on Friday, June 29, 2012

Bill, really? You want to pull out H.R. 4628 as an example?
I love the lies of the Right. H.R. 4628 is classic RWNJ hostage taking. It was a joke of a bill that had no real intent other than to defund ACA.

It gives RWNJ's a rally point..."See Rep Ayn Ryan voted to reduce interest rates" ...no, Ryan voted to defund ACA. I hope we will see a vote on student loans this week. There is actually a rumor it might just be bi-partisan. Wouldn't that be refreshing.

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CowDung

3:44 pm on Friday, June 29, 2012

How is that any different than the 'hostage taking' bill that they are accusing Ryan of blocking?

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Greg

4:04 pm on Friday, June 29, 2012

You must create a tax for a bill to not be a joke.

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