Establish a public works program for student loan repayment
Student loan defaults are at an all time high and are ruining MANY young American's credit (short term) and hindering future prosperity (long term). We should establish a public works program that allows those in debt to have the option to work in their communities on the weekends in lieu of making a student loan payment and/or help supplement their payment. For instance, for every eight hours an individual works on ...more »
Student loan defaults are at an all time high and are ruining MANY young American's credit (short term) and hindering future prosperity (long term). We should establish a public works program that allows those in debt to have the option to work in their communities on the weekends in lieu of making a student loan payment and/or help supplement their payment. For instance, for every eight hours an individual works on a project within a community, they are credited $150 towards that month's student loan payment. With proper oversight, our country could really prosper with such a proposal!!!
However, what would make the biggest impact altogether would be the total one time elimination of student debt. Imagine how stimulated the economy would become if hard working college graduates didn't have such a heavy financial burden resting on their shoulders. I make a very modest income and I know that if I didn't have a student loan payment, I could afford a Lexus and speed boat payment each month. Just imagine the effect if millions of people experienced such an immense sense of financial relief!
« less full details »