They wont be saddled with debt and will be able to more easily purchase bigger ticket items like cars and homes.
7% of student debt is never paid off anyway. This crisis is actually worse than the housing crisis ever was.
Personally it's a non-issue for me currently. What the future holds if nothing is done about the debt if nothing is done, that probably should be a concern. I'm not going to sit here though and pretend to be educated on the intricacies of how debt affects the economy and possible answers because I'm not an economist.
They wont be saddled with debt and will be able to more easily purchase bigger ticket items like cars and homes.
So, were going to give them a $50,000 to $100,000 gift so they can pay off their student loans, so they can later in life, buy a car or a home.
I'm sure there are more than a few non college educated people who would love a $50k to $100k gift to be able to buy a car and a home.
What the future holds if nothing is done about the debt if nothing is done, that probably should be a concern. I'm not going to sit here though and pretend to be educated on the intricacies of how debt affects the economy and possible answers because I'm not an economist.
Yeah, it's a problem, but not one solved by just paying off their debt. The solution is in educating them about what they are getting into. Informing them that, rather than financing their living accommodations into their student loans, they can get a job that will help offset those expenses. There are even places on campuses that will help you earn college hours by working for the school doing things around the campus.
We need to educate these kids that they don't need to go to an ivy league school, they don't even need to go to these big state schools. Often they can get a great education from an in state college, and they get savings from that.
There are ways, if you work hard enough, that you can go to school almost debt free.
Yes, the student loan crisis is a problem, but, it's a problem caused by government. Part of the reason these colleges are so expensive is because all these loans are backed by the government. When the school sees that, it's like chum in the water and they know they can jack up the prices because they know the government is good for it.
I agree that a great education, can (not always), be a good thing, but, the students need to be prepared and informed before making the decision to saddle themselves with 10s of thousands of dollars in debt, and not expect the taxpayer to relieve them of that debt.