Branstad, Reynolds visit Ames, discuss student debt

Richard Martinez/Iowa State Daily

Iowa Gov. Terry Branstad and Lt. Gov. Kim Reynolds announced their initiatives for the 2014 campaign in an event Sept. 9 in the Gallery Room of the Memorial Union.Branstad and Reynolds stated that their platform aims to make higher education affordable while reducing student debt.

Alex Hanson

In the midst of a busy campaign season, Iowa Gov. Terry Branstad and Lt. Gov. Kim Reynolds announced proposals aimed at making college education more affordable.

Two specific policies were announced Sept. 9 in an event at the Memorial Union, both of which will affect current and future students at Iowa State. Branstad and Reynolds also highlighted economic and educational achievements since taking office in 2011.

“We doubted whether we could freeze tuition at our state universities, but we did it because we reformed the state budget and got it in order,” said Reynolds. “We were able to, for the first time in 30 years, freeze tuition for Iowa students attending our state universities. Not only did we do that in 2013, but we did it for two years in a row.”

Branstad began by highlighting economic and educational reform achievements already enacted.

“One thing we always hear from students and from their parents is the high cost of higher education,” Branstad said. “I’m proud to say we’ve gone to work on that. For the first time in 35 years, there has been no rise in tuition for our students two years in a row.”

He then laid out two specific policy proposals aimed at making college more affordable for Iowa students. One proposal was for Fixed-Priced Value Degrees. He proposed that each of the regent institutions develop a series of bachelor’s degrees that Iowa residents or students can obtain for no more than $10,000 in tuition fees. 

The governor wants the universities to develop degrees in four of their most popular degree tracks. He also wants them to focus additionally in the areas of science, technology, engineering and math.

“We know that some degrees require a longer time frame and more significant on-campus workload. So for those degrees, maybe it can’t be done with $10,000. But we want create a discount, maybe 50 percent of what tuition might otherwise be,” Branstad said. “I already talked to Bruce Rastetter, president of the Board of Regents. We recognized this as something that would have to be approved by the board.”

A second policy proposal from the governor aims to tackle student debt. The governor said the average student is now leaving college with 63 percent more student debt than graduates a decade ago. He then announced the Student Debt Reduction Organization tax credit.

“The new fixed pricing will help with student debt on the front end, but we need to deal with the excessive debt that can be accumulated through an academic career,” Branstad said. “We plan to work with the legislature to create a student debt reorganization tax credit.”

The governor proposed that a tax credit be created and awarded to Iowa student taxpayers who make voluntary cash contributions to student debt reduction organizations that buy down debt for those who participate in community service volunteer activities.

Dozens of ISU students filled the Gallery Room to see the governor. Some agreed that regardless of party affiliation, anything that affects student tuition is important.

“Obviously tuition affects everyone, whether you’re interested in politics or not,” said Mallory Earll, sophomore in political science. “Everyone has to deal with college debt; all students have to face that. Even if you’re not interested in politics, everyone thinks it’s important to know where your money is going and how it’s being spent.”

In response to Branstad’s two policy proposals, Earll said she was excited to see what else the governor has planned if he is re-elected this November. After implementing policies like the tuition freeze, she said she has trust in him to follow through with his promises related to education.

Other students came because they felt it was important to be informed. 

“I think people stay away from anything political just because they don’t like politics,” said Kaylie Reicks, sophomore in agricultural business. “They don’t want to get involved and they don’t think it affects their lives. It actually does. I think it’s really important to be informed about what the government is doing. I hope they actually can be informed and not just vote based on party.”

Gov. Branstad is expected to speak in Ames again Sept. 10. Branstad and ISU President Steven Leath are expected to make remarks at the groundbreaking ceremony for a new Economic Development Core Facility at the ISU research park.

The ceremony is from 4 to 6 p.m. with a short program for speakers at 5 p.m. The event is free and open to the public.