I keep hearing speculation that Hillary will announce a massive student debt forgiveness plan. That would be pretty big.
That is the deal she made with Sanders for endorsement accoridng to those early reports.
Tuition reforms and inflation rate student loan debt are good moves.
My government stafford loans are 6.8% lol. Total loan sharking.
None of it gets fixed with the plan of continuing to push more and more student access to loans. Must subsidize the institution for cost fixes. Not the purchaser.
I'm not sympathetic to the "student loan crisis" as a theme. There are certain high risk groups that need exmaining, but look at these numbers...
Student loan debt is only 31k average.
Average grad makes 50,400.
That is an EASY pay off. Move to the higher echelon of 50k loan debt making 50k/yr
Youre looking at 550 loan payment from age 22-32 with a beginning income of 3200/month (net! and more during tax refund).
The government already offers an IBR with loan forgiveness
The problem is drop outs...
Students With Less Than $5,000 In College Loan Debt Most Likely Group To Default
A new White House report found that loans of less than $10,000 accounted for nearly two-thirds of all defaults in 2011. Fewer than one in six undergraduate borrowers with $5,000 in initial debt completed college, a lower rate than higher borrowers.
But even then they are defaulting on 5k over 10-20 years.
Again, EASY pay off. 58-120 dollars a month over 10 years at the ludicrous rate of 6.8%.
Simply forgiving debt that could be easily paid by most of these people begs a closer review of why they are defaulting on bill lower than their cell phone.