http://www.nytimes.com/2015/01/25/upshot/a-quiet-revolution-in-helping-lift-the-burden-of-student-debt.html?action=click&contentCollection=Business%20Day®ion=Footer&module=MoreInSection&pgtype=article&abt=0002&abg=0
As college gets more expensive every year, we look to find a solution to student loan debt. Clinton originally created an income based program- IBM - but students were not aware of this program and therefore, were not taking advantage of it. Then in 2007, the program was modified and the terms for repayment were better. The program basically made it impossible to default on your loans because you paid a percentage based off of your monthly income and after a certain number of years, your debt would be forgiven. In 2010, Obama then made IBR even more generous. The problem that still lies within this program is that no one really knows about it or what it is or how it works. But basically, in the long run the federal government is going to take over the states in American higher education. Could there be a better alternative to helping students with their student loan debt or is the government on the right track?
1 comment:
I think the government is on the right track but I also feel that universities need to have a part in fixing this problem. Maybe there should be a cap on the amount a university can charge for tuition.
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