So, the Old Thoughts Education is based on education up through age 19. Once enacted there would still be higher education as well as more specialization for vocations. However, before flushing out that idea comes dealing with current Student Loan Debt. For existing and current loans.
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For the subsidized/unsubsidized government loans remove interest going back to inception of the loan. Further, make it illegal for any subsidized or unsubsidized loans to charge interest on education loans for places that are accredited or public. **Interest removed will be just that removed with no tax burden for the removal. If someone has paid off their loans since 2008 then do a one time one year tax deduction (not pay out but just a tax deduction).
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For loans less than 15 years old. Do a forgiveness equivalent to double what the person has paid on their loan. So if a person has paid $10k since 2014 then forgive $20K. No tax burden for the forgiveness. Any loan amount left over after subtracting interest and doing a match of amounts paid see #4
IF a loan is more than 15 years old: Do a forgiveness equivalent to triple what the person has paid on their loan. So if a person has paid $10k since 2000 then forgive $30K. No tax burden for the forgiveness. Any loan amount left over after subtracting interest and doing a match of amounts paid see #4 after #3 -
For those who have been on income based plans for every year they have been on that plan subtract 5% of remainder balance after #1 & #2
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All loans that are not paid off from the above actions. The following parts take place. No tax burdens on forgiveness.
Part 1: Every dollar paid towards the loan is matched. So pay $100 the gov forgives $100.
Part 2: Each year as needed due to financial hardship or through some other component for each hour of work an additional $100 is forgiven.
For 2.5% businesses (see Old Business Thoughts) it is $400, 5% is 300, 10% is 200.
Part 3: for those who are permanently disabled forgiveness of course.