Tuesday, September 24, 2013

U.S. to Contact Borrowers with New Options for Repaying Student Loans

1. http://www.nytimes.com/2013/09/25/education/us-to-contact-borrowers-with-new-options-for-repaying-student-loans.html?hpw&_r=1&

2. Education

3. National level

4. A potential policy that is being considered to help a problem/issue that individuals/families face.

5. This is important to individuals because many more individuals will be encouraged to receive a higher education. Also many students will be able to lower their school debts.



6. I think that this program is a great program that should be promoted within students. It will allow a greater amount of students to attend school and receive a higher education. Many of those students precisely could have been those that were afraid of attending school because of getting into large amounts of debt. I also believe it would encourage others to pursue long term degrees such as medical degrees. With this program in place it will give those the confidence to finish their schooling and become successful in the medical field. This program would notify eligible candidates when their debts have gone to and all high to take action. The action will require them to “sign up” for this program which could be very beneficial to them. I have to stress that it is extremely important for the federal government to keep evaluating this program. Although it does not apply to everyone with student debt, it could potentially affect federal finances. The program entails that once a candidate is in the program they only have to pay a percentage of their income for a few years and the rest will be forgiven. That sounds great! But…what exactly does this do to our federal money? Will we be in MORE debt? Many essential things are being cut form our federal budget. Perhaps before putting programs like this in place we should really analyze what effect it will have on the economy at large. I would love this program if I could qualify, but it almost seems too good to be true.

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