By Sabina Mollot
Late last month, the State Assembly held a hearing in an effort to come up with solutions to the worsening student loan crisis.
Assembly Member Harvey Epstein later said that while it’s yet to be determined by his colleagues if this is a matter to be handled legislatively, he personally supports student loan forgiveness. At the hearing, testimony was also given about whether it’s necessary to regulate student loan servicers in New York.
Over the past decade, student loan debt in New York State has grown by 112 percent, bringing the number of borrowers here to just under three million. Prior to the hearing, the Assembly said the stats highlight “the significant impact the student loan industry has on our population and (how it) needs to be examined with greater urgency.”