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How To Reduce Student Loan Debt

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Student loan debt has become a vast problem in today's society. More than forty million people have student debts, and make up approximately $1.3 million of debt in the United States (Knebel). People are delaying major life events in order to pay off these loans. To remedy this, the government should make it possible for people to revise their student loans to fit their salary or implement an income-contingency plan. The government has a set plan that a person have to follow until the debt is payed off. Because of this debt, some newly graduated students have to delay life events such as getting married, having kids, or planning for retirement. If we would just adapt an income-contingent plan we would have a lot more people who are able to pay off …show more content…

Stress is put on people every day. This plan will take that stress off of a person. It liberates the person from being in debt all of his or her life. I also think that it would not keep a person from moving from one job to another. People are naturally going to want to make more money than the next person. This reason is why some people will stay in school, not just because they feel like they have to. This will not keep a young adult from learning a certain responsibility. If anything I think that it will actually help them with learning what actually happens in life. An income-contingency plan would help people to pay off their student loan debts, from young adults to senior citizens. It would take some of the financial worries away and let them live their lives. They would not feel as though they have to put off getting married or having kids. Graduated students would be able to live their lives, and not have to worry about what will happen if they die with student loans. This plan has even been proved that it can work in Britain and Australia, so why does America not adapt a

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Student debt is a heavy burden to face, not only for upcoming student graduates, but also those who already are retired or nearing retirement. In “Haunted by Student Debt Past Age 50,” an article by The New York Times Editorial Board, argues how people that are of age 50 or above are struggling to pay off their debt while at the same time the government is taking away their money from their Social Security check. They give us the insight what they think of the situation, and what they suggest the government do in order for the problem to be sooth out. The Editorial Board through the use of rhetorical appeals of Logos, Pathos, and Ethos, shows the audience how the student debtor’s are having difficulty paying student loans, as a consequence they create a propose solution in which the government should help people that are carrying that debt, even after they have graduated.

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04 Dec. 2016. In USA Today’s article by Sandra Block and Christine Dugas titled “Five Proposals to Solve $1 Trillion College Loan Crisis,” the authors mention five ways to solve the student debt crisis in America, illustrating things like Bankruptcy reform, loan forgiveness, increasing federal pell grants, and the education of borrowers. Evaluating this article, it provides an informative view on the solution of student debt, and overall expresses many different spectrums on ways we can solve this social problem. The five ways to solve this problems

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1075 Words | 5 Pages

This would benefit the economy and take stress off the debt crisis. The IBR plan would take no more than 10% of each paycheck. If students have a hard time finding a job after graduation, they would pay 0$ a month of loan payment. Even if they made between $10,000-$15,000 a year, they would pay 0$. This program takes into account the amount each student makes per year and also the size of the family.

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