Tierney’s NSCC seminar illustrates methods to pay for college

LYNN – Gordon College graduate Kendra Seavey of Peabody figures it will take 20 years to repay her higher education loans.Laurie Grant, also a Peabody resident, calculates a 30-year debt span stemming from her undergraduate degree and master’s program.Both young women work for the Beverly Council on Aging where Seavey is a recreation and leisure specialist and Grant a social worker. Like many new graduates, they are trying to navigate the labyrinth of loan and grant offerings from the government, including initiatives implemented by President Barack Obama that allow debt extension over longer periods with reduced payments.To help people like Seavey and Grant, Rep. John F. Tierney led an interactive seminar Thursday at North Shore Community College, where new technology fostered discussion and provided immediate feedback from the audience.Using Turning Point software, each member of the audience was equipped with a hand-held keypad, allowing them to input answers to questions on a Power Point presentation screen and to see the overall results compiled and analyzed.For instance, one question asked how much personal debt was accrued or anticipated through college education costs? The five options were zero to $4,999; $5,000-$9,999; $10,000-$14,999; $15,000-$19,000; and $20,000 or more.The results: 40 percent of the respondents in the room owed or expected to owe $20,000 or more; 30 percent indicated less than $4,999; 20 percent answered $10,000-$14,999; 7 percent said $5,000-$9,999; and 3 percent chose $15,000-19,999.”I’m listening to students who say they are struggling to find a way to pay for college,” Tierney said. “Students tell me how escalating tuition fees exacerbated by the recent economic downturn have left them in substantial debt, while others say they have had to put their academic ambitions on hold or have forgone a higher education altogether.”A Salem Democrat whose committee memberships include education and workforce development, Tierney said students and graduates must be made aware of government loan and grant programs, and new technologies like YouTube is making that possible.Just how much do most students owe after college?According to a National Postsecondary Student Aid Study conducted by the U.S. Department of Education, 65.6 percent of four-year undergraduate students graduated with a bachelor’s degree and some debt in 2007-2008. The average student loan debt among graduating seniors of four-year institutions was $23,186.Specifically, graduates of public 2-year colleges had an average debt of $10,444, while the average debt of 2-year private colleges was $17,162. For graduates of 4-year schools, average student debt ranged from $19,839 for graduates of public colleges and universities to $27,349 for those graduating from private institutions.Tierney said new federal legislation is making higher education more affordable and accessible. He highlighted benefits available through the College Cost Reduction and Access Act (CCRAA) and proposed increases in federal financial aid, such as the Student Aid and Fiscal Responsibility Act (SAFRA). These bills were written with the intent of easing the burden on students and their families struggling to meet the rising cost of college. The congressman also outlined benefits of the Direct Loan Public Service Forgiveness program.Tierney said the CCRAA, enacted in 2007, marked the largest increase in education funding since the GI Bill of 1944, lowering interest rates on student loans and expanding loan payment options for student borrowers. The act also created a loan forgiveness plan to give people incentive to enter public service careers, such as law enforcement, fire fighting, government and military. “Public service jobs can help you pay off your college debt,” Tierney said.Teacher grants are also available, up to $4,000 a year for students who plan to become teachers.The SAFRA currently awaits action in the Senate, he said, noting it would save an estimated $87 bi