Huffington Post Reader Question Dear Steve, Im going through bankruptcy but my attorney said no to trying to discharge student loans. I currently h...
Congress will likely hammer out some sort of deal on student loans, which Republicans will love and Democrats will be forced to swallow, but it's worth considering whether we view education in entirely the wrong way here in America.
Under this system, everyone who is admitted to a qualifying institution receives a college education for $5,000 per year, making college no longer dependent on socio-economic standing.
Each year, millions of American students rely on the federal student loan program to pursue higher education. For many families, without the ability to pay for their students' education over a longer term, college would simply be out of reach.
With market interest rates so low this year, students taking out loans will pay a lower rate than current law of 6.8 percent -- for now. But without strong enough protections from high rates in the future, this infographic demonstrates how the deal will actually milk students in the coming years.
A generation from now, will good grades be enough to get you a good life? Is that already a fiction? Will you merely re-live the struggles of your working or lower or middle-class family, and never, ever get ahead?
Huffington Post Reader Question Dear Steve, I have a student loan for $2,500 and one for $1,250. Somehow my records show my original principal was o...
Banks are corporations, which are legal entities established under rules written by people. Their existence should advance America and Americans. Not the other way around. Many in Congress need to be reminded of that.
The economy and our nation's future depend on having more Americans get a college education. We should be doing all we can to encourage students to go to college.
With tuition, living costs and transportation costs all escalating, some students are opting to cut back on their academic career, attend a different college than their first choice, take longer to graduat and even stall or forego the college process altogether.
Older generations, including mine, didn't necessarily see indebtedness for college as a negative. As a result, there was more of a willingness to forgo or postpone other significant expenditures in order to pay off student loans.
This may well be the most short-sighted, ineffective and contemptible Congress in the past fifty years, but can they truly be foolish enough to gamble with the future of America's children.
Let's take a few steps backward and review how we got to where we are. A generation ago, public universities were for the working and middle class. Tuitions were extremely low, and it was rare for students to incur large debts. Most of the cost was paid by state legislatures. These institutions, mostly dating back to the land-grant subsidies of the Lincoln era, were one of America's great mechanisms of upward mobility. Then three things happened. State legislatures got caught up in tax cutting fever. They had to compensate for lost revenues, and little by little cut back on public support for public universities. By 2012, most public universities got less than a third of percent of their support from the public. In some states, the figure was less than 15 percent. The burden of tuition was shifted to students. Today, the social class of one's parents determines educational and financial success more than at any time since World War II. But the children of the non-rich, who far outnumber the children of the rich, need higher education once again to be the great meritocracy.
That's how the Corporate Machine works. Colleges and universities are there to generate its "inputs," intellectual and human, not to advance our collective understanding and knowledge.
Go ahead and drop that nuke, Harry! Start approving President Obama's nominees, as the Constitution says you are supposed to. Republicans will be Republicans no matter what you do, and you've already been suckered twice by "handshake agreements" that they won't.
We need to guide our colleges back to reality by making them responsible for the loans they benefit from. They will have to rethink their tuition strategies once they are responsible for collecting the loans.