Student Loan rate should be capped 8%. This percentage rate should be fix for the life of the loan. Loan payments should be capped at 25% of the borrowers income . Student loan should be subsidized on the back end during the payback process for those who did well in college and are entering the work force at entry wages. Going to work and making timely payment should benefit the borrower. loan forgiveness should be considered for “qualifying” borrowers after 20 of payment. This should include all lending institutions.
Our youngest and brightest are entering the work force living in their parent’s basement because they don’t have the money to live due to student loan debt payments . There must be a better way. God Bless America!
I agree but 8% is still too high. Should be 2-3% for the students and for Parent Plus loans.