Eliminate interest on Government-backed student loans. I have been paying my loans for 30 years and owe more than I borrowed. I am a Teacher.
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I agree. The student loan program is a modern day version of “I owe my soul to the company store…” that can be perpetual debt for the person. The finance industry then gains endless income from those loans with little incentive to change. This is maintained by the restrictions regarding student loan bankruptcy. These programs should be reviewed and made more reasonable and workable for the consumer. Future student loan programs should be financed and owned by the university.
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All it took was going thru one major hardship and it’s like the balance tripled with interest. This needs to be stopped. Flat fee not compounding interest.