Say goodbye to student debt
Why are so many people in debt? How much do they owe in student loans? What can be done to help them? Find out how this can be put to an end!
November 1, 2016
Dear Future President,
It has come to my attention that something needs to be done about student debt. Student debt is negatively affecting millions of people and affecting are economy. According to Cnbc.com “Men and women laboring under student debt are postponing marriage, aren`t able to pay taxes or even pay for household items.” In some cases they cannot support their own families. There are things that can and should be done to help these people in need. With Americans owing an estimated $ 1 trillion in student loans you would think that the government would have already came up with lots of solutions for this issue.
First, the government can lower the interest rate off of student loans. That would already help so many people! But the government can do so much more than that, Interest isn’t the only thing that could be helped. Loans are funded by federal government. Specifically, the Department of Education. Say a loan is postponed, the government pays for the interest expense. So why haven’t they came up with a solution for the student debt that is affecting our country?
Second, the colleges could help to lower the cost. One way they could do to help is not use such luxurious buildings. What I mean by that is save energy so they don’t have to pay such large energy bills. “Last year American colleges spent at least $7 billion on utilities and energy bills,” said studentloanhero.com. For example, Ole Miss spent an average of $2,504,610 on landscaping according to their website. I am not saying to not have nice colleges but don’t spend so much on landscape and utilities. Also I understand that being a professor is a lot of hard work but, insidejobs.com says that professors make $121,850 per year. Online Business degree says that citizens that work in the business only get paid an average of $75,000 a year.
I feel that if we helped people pay off their student debt or change the interest rate and come to a solution then we would already help so many citizens. This is a very serious issue and could be helped if we started to focus on it. So I believe that something should and could be done to help student debt and save those who are in student debt or stuck with student loans.