Announcement Comes After Republican Governor Martinez Eliminates New Mexico Higher Education Funding
New Mexico – Today, Secretary of Education Betsy DeVos announced a rollback of student loan protections, including programs that help students manage debt. This announcement comes on the heels of Republican Governor Martinez’s veto of all state funding for New Mexico colleges and universities.
Democratic Party of New Mexico Vice Chair Juan Sanchez III is currently a student at the University of New Mexico. He responded to the announcement stating, “The Republican approach to education puts New Mexico students’ success at risk. DeVos’ policies coupled with Governor Martinez’s elimination of higher education funding limit opportunities for New Mexico students who are just trying to get ahead and make a better life for their families.”
In New Mexico, the student loan debt average is $18,969 and more than half of students graduate with student loan debt.
Democrats have worked to pass and implement important solutions to help with growing student loan debt by capping student loan interest rates, ensuring anyone with outstanding debt can refinance at lower rates, and expanding availability of the pell grant.
In addition, Democrats in the New Mexico legislature worked to ensure there would be no cuts to public education by passing a bipartisan budget and revenue package, which Republican Governor Martinez rejected.