Student debt seems to be a growing problem. Not only for the students, but for the parents and schools. In a survey, 95 percent of parents said that college education is very important, 25 percent do not plan to help their child pay for their college, and 46 percent said their children should fund at least some of the cost of college. Students will see more of their debts forgiven than previously thought. More than $108 billion in student loans will be forgiven over the next 10 to 20 years. We can thank the federal programs that help ease the financial burden for those attending higher education institutions. Congress approved the plans to relieve students' debt burden by lowering the monthly payments by borrowers, and forgiving any unpaid loans after 10 to 20 years.
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The amount of debt forgiven could also continue to grow as more and more students enroll in the program. But with the incoming Donald Trump administration and the Republican-majority Congress, parts of the program could be dismantled, according to Reuters. Specifically, the incoming administration may choose to end rules that make it easier for students who were defrauded by for-profit colleges to have their loans forgiven. It’s and Americans are more burdened by student loan debt than ever. You’ve probably heard the statistics: Americans owe nearly $1.3 trillion in student loan debt, spread out among about 44 million borrowers. In fact, the average Class of 2016 graduate has $37,172 in student loan debt, up six percent from last year. As we can see student loan debt has a variety of problems. So as a kid you might want to ask your parents to start a savings account for your college funds, so when it comes time you don’t have to worry as
The amount of debt forgiven could also continue to grow as more and more students enroll in the program. But with the incoming Donald Trump administration and the Republican-majority Congress, parts of the program could be dismantled, according to Reuters. Specifically, the incoming administration may choose to end rules that make it easier for students who were defrauded by for-profit colleges to have their loans forgiven. It’s and Americans are more burdened by student loan debt than ever. You’ve probably heard the statistics: Americans owe nearly $1.3 trillion in student loan debt, spread out among about 44 million borrowers. In fact, the average Class of 2016 graduate has $37,172 in student loan debt, up six percent from last year. As we can see student loan debt has a variety of problems. So as a kid you might want to ask your parents to start a savings account for your college funds, so when it comes time you don’t have to worry as