Student debt is a challenge many have to go through, but Obama is putting in a new act to enhance and diminish the problem of students having long term debt to pay off their school loans. This new program is supposed to debut in 2014 and help students to keep more money and get out of debt faster. It seems as it could greatly help some people but where will the government have to achieve all the money from, more than likely either increase taxes on certain things or employ better federal spending. The debt of school loans, right now, is more than credit card debt. So helping out all of these students is going to increase our economy in the future because it is a twenty year plan. Another main point is that now the rate of unemployment for right of college is 9.4%, so the ability for a part of graduates to pay off their loans is very difficult. So through these new efforts it will help students and recent graduates get out of debt, and enjoy their future lives.
1 comment:
I feel that students shouldn’t take out loans unless it’s a very small amount and they are 100% sure they can pay it back and some. This kind of relates to the problem of the great the depression, people buying stuff they cant actually afford thinking suddenly they will be rich and will just pay it off. An excellent substitute would be sighning up for scholarships, playing an instrument, playing a sport or putting in hard labor for what you desire.
Post a Comment