Like many American people, I am currently going through college to pursue a higher education in hope that I will land a well paying in job in my field of study. That is how our society’s socioeconomic ladder works; once you graduate high school, you then go to college if you are able to afford it so you can land a job making middle class income in order to live out “The American Dream”. But with college tuition being at an all time high and student loan debt crippling most college grads, it is becoming quite a nightmare trying to pursue a higher education. It is time we put a stop to this issue and figure out ways to diminish America’s student loan debt and make college education more affordable, and one day free like it was intended!
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He talks about putting a stop to the federal government profiting on student loans. Right now America owes over $110 billion to the federal government for student loans, this is morally wrong and bad economics. We need a plan to cut these high interest rates 4-7% back down to about 2% and use the money gained from the interest and reinvest it back into the higher education program. There also need to be a way to refinance your student loan interest rate like you would auto insurance or a mortgage so people stuck with those high 5-7% interest rates can get a …show more content…
Every year the American people dish out hundreds of billions of tax dollars that goes to subsidiaries for the oil and gas industry and many billions more to Wall Street, the same people who are responsible for crashing our economy because they were to greedy, so I am sure we can figure a way to set aside enough money in order make college great again. Over time once these programs increase we will see an increase in the size of the middle class, which will in return pump billion right back into the system. So the whole program will end up paying for itself in the long run. Another source of money could be a simple tax on financial transactions like derivatives and stock trades, which will mostly affect the upper class who has been taking tax cuts left and right not doing one thing to help the country increase its middle class which is the lifeline of our
Back …show more content…
He talks about putting a stop to the federal government profiting on student loans. Right now America owes over $110 billion to the federal government for student loans, this is morally wrong and bad economics. We need a plan to cut these high interest rates 4-7% back down to about 2% and use the money gained from the interest and reinvest it back into the higher education program. There also need to be a way to refinance your student loan interest rate like you would auto insurance or a mortgage so people stuck with those high 5-7% interest rates can get a …show more content…
Every year the American people dish out hundreds of billions of tax dollars that goes to subsidiaries for the oil and gas industry and many billions more to Wall Street, the same people who are responsible for crashing our economy because they were to greedy, so I am sure we can figure a way to set aside enough money in order make college great again. Over time once these programs increase we will see an increase in the size of the middle class, which will in return pump billion right back into the system. So the whole program will end up paying for itself in the long run. Another source of money could be a simple tax on financial transactions like derivatives and stock trades, which will mostly affect the upper class who has been taking tax cuts left and right not doing one thing to help the country increase its middle class which is the lifeline of our