Essay Is The Government Fixing The Student Loan Crisis?

1055 Words Oct 22nd, 2015 null Page
Is the Government Fixing the Student Loan Crisis? ; Who is on First, and What is on Second
An author for the America Press wrote an article called “The Student Debt Crisis”. He argues that student loans are hurting the economy and causing college students to drop out because they can’t afford to payback student loans. The author states that “60 percent” of the Graduating class, college students use loans to pay for college (para. 2). Even worse, the students that struggle the most use the money to get necessities like a vehicle or a place to stay; the author states, “Millennials have been hit the hardest, Burdened by student debt, millennials are putting off large purchases, like houses and cars” (para. 4). The problem is that the student misses payments because they have a low paying job. The interest rates are too high, and puts the student into a financial hole (“Para. 1-4”). To fight this, the government is trying to propose new plans and ideas to fix the problem. One of these being the Bipartisan Student Loan Certainty Act, to lower interest rates of student loans down to 3.86 percent, but it was rejected in 2014 (para. 5).
The Government continues to fight this problem constantly with new ideas. Chris Baker, of The Washington Times, talks about how the government has used programs to help workers pay off their debt. Federal workers received as much as $6,000 annually to repay federal student loans” (1). While the government is trying to solve the problem, there is a…

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