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The Saker
A bird's eye view of the vineyard

offsite link How the Western Media invented the ?mysterious murderers from GRU? Sun Oct 20, 2019 06:08 | Scott
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offsite link The Road to Damascus: How the Syria War was Won Fri Oct 18, 2019 19:21 | amarynth
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offsite link The Saker interviews Michael Hudson Fri Oct 18, 2019 18:56 | The Saker
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offsite link Moveable Feast Cafe 2019/10/18 ? Open Thread Fri Oct 18, 2019 16:30 | Herb Swanson
2019/10/18 15:30:01 Welcome to the ‘Moveable Feast Cafe’. The ‘Moveable Feast’ is an open thread where readers can post wide ranging observations, articles, rants, off topic and have animate discussions

The Saker >>

Human Rights in Ireland
A Blog About Human Rights

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Human Rights in Ireland >>

Cedar Lounge
For lefties too stubborn to quit

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Cedar Lounge >>

Dublin Opinion
Life should be full of strangeness, like a rich painting

offsite link Some Thoughts on the Brexit Joint Report 11:50 Sat Dec 09, 2017

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Dublin Opinion >>

Ballooning Student Debt Debated by Presidential Hopefuls

category international | miscellaneous | press release author Friday July 05, 2019 15:44author by Kate Zeller - Jubilee USA Network Report this post to the editors

Republicans and Democrats Propose Student Loan Relief Solutions

Republicans and Democrats Propose Student Loan Relief Solutions

Washington DC - American student loan debt topped $1.6 trillion dollars this year, surpassing credit card and auto loan debt combined. More than 45 million people hold student debt, owing an average of $35,000. 20% of current borrowers are behind in student loan payments and the Brookings Institution released data that 40% of student borrowers will default by 2023.

Presidential candidates, Senators Bernie Sanders (I-VT) and Elizabeth Warren (D-MA) proposed student debt relief plans. The Sanders plan seeks to eliminate all student debt while the Warren plan offers substantial relief on a sliding income scale.

“Student debt is a cause of inequality and a challenge for our economic growth,” stated Eric LeCompte, Executive Director of the religious debt watchdog group Jubilee USA Network. “Americans need student loan relief and we also need solutions for the root causes of high student debt. We need to reign in for-profit colleges and schools that have low retention rates. Student borrowers should be able to access bankruptcy protection and we need to address the high costs of university education.”

The Trump Administration suggests there should be caps on student lending that, the White House argues, would drive the cost of college tuition down and ensure responsible lending and borrowing. In the last Congress, Representative Virginia Foxx (R-NC) sponsored the Prosper Act to stop student loans from accruing interest while students are still taking classes. Foxx's legislation would also eliminate or lower other types of federal aid or student loan relief.

"When students graduate with high debts, they don't buy homes and invest in our economy. Student debt is affecting our entire economy and we can not afford to leave this problem unaddressed," noted LeCompte. 

Related Link: http://www.jubileeusa.org
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