Friday, April 27, 2012

5 ways Obama wants to ease student debt


The csmonitor published an article Student loan forgiveness: 5 ways Obama wants to ease student debt

 

Not fair?? I disagree. I think much more needs to be done to fix this issue. Fair would be paying back what you actually borrowed, with little or no interest since educated citizens contribute to society in many ways.
It's quite ignorant to be jealous of any potential loan forgiveness programs and hope that these students will be saddled with ridiculous debt for all of their working lives because ultimately, this will make the country you live in a disaster. This entire generation will be forced to live in poverty and accept jobs that they are overqualified for but pay nothing. Innovation and creativity will be luxuries of the past.
If a student graduates with $100k in student loan debt and makes the minimum payment of close to $2k monthly only to see the amount owed INCREASE every month because of interest, why bother to continue to pay? It is disgusting that people accept declaring bankruptcy when someone carelessly purchases fancy cars, flat screen televisions, leather sofas, or other materialistic things that they can't afford, but when students who are trying to improve their lives by getting an education and become trapped in this predatory lending system and need financial relief, other citizens call them irresponsible and lazy.
Maybe a solution would be providing the tax exempt status to those repaying student loans? Since these struggling students do not have the support of the government or other citizens, why should they pay taxes when they can barely afford basic necessities?

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