Spring Break
Proposed bill aims to keep grads in state
Smith: Tax break on loans would encourage staying put
Renee Rosenow
Issue date: 1/28/08 Section: News
Wisconsin lawmakers are honing in on student loans as a means to keep students in the state after graduation.
Rep. Jeff Smith (D-Eau Claire) introduced a bill to the Assembly two weeks ago, which would give students a tax break on their college loans. He said the bill would be an incentive to encourage graduates to stay in Wisconsin.
"There is no one magic fix … and there is lots of talk about the 'brain drain' in Wisconsin," Smith wrote in an e-mail to The Spectator, referring to the amount of students Wisconsin loses every year.
Smith said Wisconsin is currently retaining 80 percent of its graduates, with 20 percent moving elsewhere.
Jeanne Skoug, director of Career Services at UW-Eau Claire, said 75 percent of the university's graduates stay in Wisconsin and between 24 to 27 percent stay in the Chippewa Valley.
"Anything that we can do to keep graduates in the state or region is a good idea," she said.
Skoug said these numbers are up from 10 years ago when only 13 percent of graduates stayed in the Chippewa Valley.
The bill would allow graduates who have student loans to exempt their interest from state taxes, Smith said.
"It is just another bit of encouragement and maybe we can lower the gap another 10 percent," Smith said.
Senior Breanne Prothero said the tax break would not convince her to stay in Wisconsin, although it is moving in the right direction.
"School is so expensive today … I would support it, anything helps," Prothero said.
Senior Sarah Zboralski said the tax breaks would not be enough to keep her in Wisconsin.
She said the bill would not hold people here if there are more job opportunities outside of the state.
"If (people) are willing to pay tuition in college then they would be willing to pay more to be happy," Zboralski said.
It's not a matter of money but a lack of big cities and agencies that attract graduates to other states. They are not going to stay if they could do better in their career somewhere else, she said.
Smith agreed that opportunity seems to "knock elsewhere" when it comes to students looking for jobs after college.
He said the governor is introducing policies to push for an increase in business growth, especially in the Chippewa Valley, to combat this.
Smith said with the end of the legislative session nearing, he doesn't foresee a lot getting done with this bill.
Rep. Jeff Smith (D-Eau Claire) introduced a bill to the Assembly two weeks ago, which would give students a tax break on their college loans. He said the bill would be an incentive to encourage graduates to stay in Wisconsin.
"There is no one magic fix … and there is lots of talk about the 'brain drain' in Wisconsin," Smith wrote in an e-mail to The Spectator, referring to the amount of students Wisconsin loses every year.
Smith said Wisconsin is currently retaining 80 percent of its graduates, with 20 percent moving elsewhere.
Jeanne Skoug, director of Career Services at UW-Eau Claire, said 75 percent of the university's graduates stay in Wisconsin and between 24 to 27 percent stay in the Chippewa Valley.
"Anything that we can do to keep graduates in the state or region is a good idea," she said.
Skoug said these numbers are up from 10 years ago when only 13 percent of graduates stayed in the Chippewa Valley.
The bill would allow graduates who have student loans to exempt their interest from state taxes, Smith said.
"It is just another bit of encouragement and maybe we can lower the gap another 10 percent," Smith said.
Senior Breanne Prothero said the tax break would not convince her to stay in Wisconsin, although it is moving in the right direction.
"School is so expensive today … I would support it, anything helps," Prothero said.
Senior Sarah Zboralski said the tax breaks would not be enough to keep her in Wisconsin.
She said the bill would not hold people here if there are more job opportunities outside of the state.
"If (people) are willing to pay tuition in college then they would be willing to pay more to be happy," Zboralski said.
It's not a matter of money but a lack of big cities and agencies that attract graduates to other states. They are not going to stay if they could do better in their career somewhere else, she said.
Smith agreed that opportunity seems to "knock elsewhere" when it comes to students looking for jobs after college.
He said the governor is introducing policies to push for an increase in business growth, especially in the Chippewa Valley, to combat this.
Smith said with the end of the legislative session nearing, he doesn't foresee a lot getting done with this bill.
Viewing Comments 1 - 4 of 4
C
posted 1/28/08 @ 8:12 AM CST
Maybe it depends on how much of a student loan bill they rack up. I'm an actual E.C. graduate and I wish I would have left the state after graduation. (Continued…)
Scott Gunem
posted 1/28/08 @ 7:50 PM CST
I think Rep. Smith's bill is well-intentioned, and I agree that it's very important for Wisconsin to retain more of its young people. However, like C, I don't think it's in anyone's interest to restrict freedom. (Continued…)
rprp
posted 1/29/08 @ 9:31 AM CST
The only way any one can become rich in this state is to become a farmer. Most graduates don't want to be farmers.
Scott Gunem
posted 1/29/08 @ 10:34 AM CST
Hey, those students at Moo U (UWRF) all want to become farmers! Just joking. In all seriousness, farming is a noble profession; but I don't think the vast majority of farmers in Wisconsin would consider themselves rich. (Continued…)
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