As I travel around Wisconsin, I hear from far too many college students who are taking on massive amounts of student loan debt to earn a bachelor's degree. Sometimes, the burden of debt can prevent or delay these young borrowers from purchasing a home or even starting a family. Ensuring students receive a top-notch education without accruing significant debt is a top priority of mine.
The average amount of outstanding student loan debt per borrower is over $37,000 in the United States. In Wisconsin, graduates on average leave school with an estimated $30,000 of debt.
What might a practical solution to the issue of student loan debt look like?
Competency-based education (CBE) offers a transformative approach to higher education, addressing the staggering student loan debt crisis that burdens so many graduates. By allowing students to progress at their own pace and demonstrate mastery of subjects, CBE programs enable them to complete degrees in significantly less time with less debt.
That is why this week, I introduced the bipartisan Empowering Learners Through Competency-Based Education Act. This bill will streamline CBE implementation nationwide, empower students, ease financial burdens, foster innovation in education, and more quickly lead young Americans to meaningful careers with less student loan debt. I am happy to let you know that this bill is supported by Western Governors University, Capella University, Higher Learning Advocates, and the Center for Higher Education Policy and Practice at Southern New Hampshire University—all innovators and experts on CBE programs.