Would 5-10% per year Federal Student Loan Forgiveness be a good economic Stimulus for those in good standing?
Wouldn’t this help our slipping middle class, and make us more competitive with other countries as far as education? It seems that every job (even general Admin type stuff) now requires some sort of degree or certificate, while wages remain stagnant. How can we keep a lid on college costs as well?
For generations X,Y, and Next it seems that there is a perfect economic storm, between college costs, bloated real estate prices, cost of daycare etc, looming Depression.. blah blah blah.. Many people are working two or more jobs which eventually adds to our health care burden, and destabilizes families/marriages.
* How do France, Sweden, England pay for it? Just wondering?
Government subsidy on this already exists. It’s the student loan interest rate that you can claim as a deduction on your income taxes. This amounts to a reduction in your loan costs that may be around 20% during your first 10 years, when your student loan interest payments are highest, and the overall savings decreases as you continue to pay off your loan balance.
