Improve Student Loan Education at UC Santa Barbara

Improve Student Loan Education at UC Santa Barbara

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Catalina Fernandez started this petition to UC Santa Barbara

At nearly $1.6 trillion, student loan debt has become a national crisis that is detrimental to borrowers, lenders, and the future of the U.S. economy. To make matters worse, economists project a student loan debt of $2 trillion by 2021 and as much as $3 trillion or more by the next decade. 

With nationwide university tuition hikes and recent developments like Trump's 2020 budget proposal, which would decrease 10% of federal loan funding and eliminate protections like the Student Loan Forgiveness Program and subsidized student loans, the crisis is becoming more and more harrowing. At private and public universities alike, students are now facing higher costs, greater likelihood for decreased financial protections, and a lack of information about an issue they are the most affected by.

At UCSB, students and their parents took out a total of $88,222,808 in loans in the 2018-19 school year. Increased loans in the community have been largely attributed to the exponential rise in UC tuition costs since 2006. Though many students at UCSB are choosing to take out loans, the implications of doing so are not being sufficiently taught or reinforced. 

I direct this petition to the UCSB administration and ask that they implement: 1) emphasized student finance education into Gaucho FYI and 2) immersive year-long-workshops aimed at improving student loan education/ awareness.

As students, this is a national and campus issue that directly affects us and will only continue to intensify. We have the power to enact change through education and advocacy. Sign this petition and make your voice heard. 

Thank you.

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