In less than two weeks, San Jose State graduate student Mike Casas will walk across the stage — a moment he’s dreamt of for years — but the excitement is tempered by a cloud that hangs over his head.
Student debt.
“The cost of living is so expensive that you have to draw on student loans to be able to live there,” said Casas, 49, who is earning a master’s degree in urban and regional planning. “That’s where I find myself.”
After graduation, Casas will be strapped with nearly $100,000 in debt — and he’s got a six month grace period to find a high-paying job to start paying it back.
But State Sen. Bob Wieckowski, D-Fremont, has authored legislation to help Casas and the 3.7 million Californians drowning in student debt. Wieckowski’s SB 477 would give students up to a $1,000 tax credit for yearly interest paid on their student loans.
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