The government should at least forgive the interest on student loans.
The government shares, through taxes, in the extra income of college graduates. Government student loans, loan guarantees and lender subsidies make the government the equivalent of an equity investor in a college graduate's earnings.
The payment of interest to the lender on the government part of student loans, guarantees or subsidies, is an unnecessary double payment.
Equity investors, like the US, who participate in the profit, through increased taxes on the extra earnings, need not also get interest on their investment.
Tuesday, September 20, 2011
Forgive Student Loan Interest
My comment posted to "Forgive Student Loans? Worst Idea Ever." by Justin Wolfers on Freakonomics:
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Student loan business collection agencies and collection agencies need to follow the same rules as regular debts collectors; they may not burden you, lie or attempt to frighten you. They are required to work with you to cure the standard through a standard image or rehab program. To restore the mortgage, you will need to make monthly bills in an quantity that is both affordable to you and appropriate to the lending company for a set period. Once you complete rehab, you can pay your student mortgage debts as usual.
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