Council passes Treyger finance education bill
Lawmaker says young people need better advice to avoid debt
More than 50 million Americans carry student loan debt, including over 1.3 million New York City residents, according to Councilmember Mark Treyger, who said that the Class of 2014 is the most indebted class ever.
And the Class of 2015 is expected to surpass the Class of 2014.
Alarmed at high amounts of student debt and the scarcity of solid education programs aimed at teaching young people about handling money, Treyger (D-Coney Island-Gravesend-Bensonhurst) sponsored a bill that would require the city’s Department of Consumer Affairs to increase its financial literacy programs.
The council passed Treyger’s bill unanimously on March 11.