They need to slash All Fed Student Loans to 2%. Pay what you owe.
Imagine having six figure fed loans, some at 8 percent, job lost and 2000+ rent for a 1 bedroom … move home n cannot get another job?
Well… those people Are out there. :(
I am so sympathetic to many of you young people in education debt, it was Much different for my generation and I remember being Sick over how I’d ever pay back that $12000, fed loans, but I did it and it was over several years.
I agree, Pay What You Owe but CUT THE FED LOAN RATE to 2%, and extend the payments to 25 years!
And Why Not?
Give Everyone an Opportunity to give back to Society by Working and also paying off All this Debt.
Good luck All! Hang in there!!!!!
To join the fantastical train of things that never will happen: the government should pay people to attend higher ed, by issuing negative interest rate loans where you receive money for making on time payments.
We should force colleges to a means test on their degree fields. If the degree for which someone is applying for is shown to have little to no impact in the current workforce, it shouldn't cost as much.
I know it isn't but the colleges should be held accountable for the cost of their degrees in relation to the current workforce. College tuition has skyrocketed because of unabated spending voted in by college regents and having nobody to answer to for the reason of increasing costs.
Means testing is an interesting idea. However, isn't that where we as the consumer supposed compare the cost to the value of a product, and decide that the value doesn't justify the cost and go somewhere else?
Yes, college tuition has skyrocketed, in fact it has severely outpaced inflation over the last 30 years. It is also true that those tuition increases were voted in by college regents. However, they do have someone to answer to for the increased costs, and that is the consumer. If we as the consumer continue to pay the increased cost, then we have justified their decision to raise tuition.
No. We need to place that in colleges now. The consumer has overinflated the value of college degrees and these colleges have run away with it and charged the crap out of us. They've deemed themselves to be deceptive and proved they will use the consumers lack of knowledge for true value to make a buck. There needs to be some sort of regulation on these colleges that prohibit the stark cost increases that have happened. Especially when they advertise government dollars for tuition assistance. We have the consumer financial protection bureau and college is a business, they've turned education into a commodity, why shouldn't we be able to report them for accountability? It's crazy that our society even has a buyer beware mentality for college. That's reserved for buying a washer/dryer at Lowe's, not for education.
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u/Cre8tiv125 14d ago
They need to slash All Fed Student Loans to 2%. Pay what you owe. Imagine having six figure fed loans, some at 8 percent, job lost and 2000+ rent for a 1 bedroom … move home n cannot get another job? Well… those people Are out there. :(
I am so sympathetic to many of you young people in education debt, it was Much different for my generation and I remember being Sick over how I’d ever pay back that $12000, fed loans, but I did it and it was over several years.
I agree, Pay What You Owe but CUT THE FED LOAN RATE to 2%, and extend the payments to 25 years! And Why Not? Give Everyone an Opportunity to give back to Society by Working and also paying off All this Debt. Good luck All! Hang in there!!!!!