Eliminate interest on federal student loans. Borrowers agreed to take out the loans and should pay them. If you want to reduce the student loan debt and assist borrowers, eliminate interest on those federal loans.
3 Likes
The federal government shouldn’t even be in the student loan business to begin with.
2 Likes
Those I know that have outstanding loan balances would be willing to pay off the original principal of the student loan. The thing that is overwhelming to most is the accrued interest. Also over the years, these loans have been purchased and transferred to many loan companies which is very confusing.
2 Likes
Eliminate all interest on student loans. All previous and future payments go directly to the principal balance. Also make a minimum $250 monthly payment for all borrowers so that the debt gets paid.
Eliminate all interest on student loans. All previous and future payments go directly to the principal balance. Make a minimum $250 monthly payment for all borrowers so that the debt gets paid.
1 Like
If you’re going to legally require that loan providers are prohibited from collecting any interest, then you’re going to prevent students from getting loans in the first place.