Here is a Haiku about my feelings
on student loans:
no no no no no
no no no no no no
no no no no
no
But all that
aside- "The Consumer Financial Protection Bureau estimates that one-fourth
of the American workforce may be eligible for repayment or loan-forgiveness
programs, the Associated Press reported last month."
So maybe there’s some hope.
Date: December 8th
Title: Student loan forgiveness: What you don't know (but
should)
News Source: USA
TODAY
Article Date:
Summary: The article is nifty. It helps one understand a way
around student loans (in a sense) and makes them seem less ominous and scary.
Issue: Student loans can be crippling but there are ways to
lessen the burden.
- Become a public teacher in a low income area
- Join the military
- Get a non profit job
Argument: No everyone wants to join the army or get a non
profit job.
Claim: Well, there’s always the thrifty Apply for the Income-Based Repayment Plan
that I just learned about
·
The program adjusts students' monthly loan
payments to be no more than 15% of their "discretionary" income (the
amount of money they make that falls above the federal poverty level).
·
Simply
talk to your loan provider
- It's entirely possible, Maylotte says, that some recent graduates make so little that they qualify to make $0 payments.
Analysis: So I still
hate student loans and the idea that college tuitions have increased so greatly
still makes me really mad but… this article is like a nice breeze. At least I
know I can get some relief from the income based repayment plan if it boils
down to having a lot of student debt (fingers crossed it doesn’t). So this
article is really great to be honest. The subject still makes my toes curl but
at least now I feel like I’m at the beach instead of freezing in no man’s land.
Relate to economic concepts: Well, if people have less to
pay off after college (or even nothing to pay off wow) they will be more likely
to spend money and feel safe and secure. More money put into the economy means
a healthier economy which is greatly needed after so many lost faith after the
crash (see my previous article about people not investing in the economy.)
