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It's not. But the news is full of people who got degrees and giant college debt and it's a terrible anvil hanging over their entire lives. They can't buy a hous
by NotSammyHagar 8y ago
It's not. But the news is full of people who got degrees and giant college debt and it's a terrible anvil hanging over their entire lives. They can't buy a house or car (or its tremendously harder), the need to service the debt is a central part of their decision making.
If you want to look at it in another lense, it hurts our whole economy because many younger people in this group aren't able to help our economy grow through buying stuff like previous generations did. When I went to college long long ago it was really cheap, like $1000 a semester. The states stopped subsidizing it so much. I was a beneficiary of this.
- learc83 8y agoIf you only have Federal loans (which are about 90% of total disbursements), you will qualify for income based repayment. That means that you will never pay more than 10% of any income over 1.5x the Federal poverty level. It will also be cancelled after 20 years of payments. I would vastly prefer more direct subsidies though.