Sunday Talk: Rowley on the Session Progress Last Week

The last few weeks of session are dedicated to off and on-again debate. After the previous week’s confirmation of the Governor’s appointees, the two standing committees of Appropriations and Ways and Means met frequently this week in order to move multiple bills to the Senate calendar for debate. This is when the legislature focuses on bringing both chambers to agreement on bills and budgets, and work to conclude the legislative session.

The House and Senate have come to an agreement on the overall budget of $8.516 billion for the next fiscal year. This is a responsible agreement that continues our tradition of passing responsible, conservative and sustainable budgets that controls state government spending and ensures we can focus on the implementation of providing income tax relief for all Iowans every year. This amount of spending also includes funding for K-12 education, including the increase of $107 million this year, and additional spending for health care and public safety. As Iowans, we can be proud that we continue passing conservative budgets that focus on important priorities for Iowans and continue to provide real tax relief measures for Iowans.

This week the Senate passed several bills related to education and workforce. We passed House File 135 so prospective students at Iowa’s regent universities have the information they need to make smart choices regarding career paths and student debt. House File 135 requires the Board of Regents to post the following information on their webpage, sortable by graduating class, academic major, and institution, and update it annually:

• The percentage of students who have completed a graduate level degree program after completing the bachelor’s degree
• The median annual income of students one, five, and ten years after completing their bachelor’s degree
• The median student loan debt of students who complete a bachelor’s degree
• The ratio of the student loan debt of students who complete a bachelor’s degree to the annual gross income of such students
• An estimate of a student’s monthly student loan payment and the percentage of this payment relative to the student’s monthly gross income

Regents institutions are required to provide a link to the online report on their university site, and also supply students in their first year with a link to the report. Many students enter college without knowing their major and without realizing the significant financial impact waiting for them upon graduation. This bill would help inform current and prospective students about the realities of student loans so they are better prepared and more aware of their potential loan obligations. These postings would also help students compare job and salary prospects while considering which major to choose. Postsecondary education is valuable and often a large financial commitment.

I anticipate we will be back next week to come to agreement on the remaining appropriations budget bills and prep for floor debate.

All my best,

Senator Dave Rowley