Tuition debt explained, and how to fix it

[mtnboomer]

https://www.youtube.com/watch?v=fmBvYLUZfzg

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[Allen]

So, the govt' has caused the "I don't want to pay for my college loan" situation by passing rules saying they don't have to at OUR expense.

The purpose of a college tuition loan is to get a college education resulting in a better job or at least "a" job resulting in being able to pay back the loan in the first place. The % rates are already low but if the feds want to help they could extend the time given to pay back these loans. There's NO reason to not pay them back. If a student has made a bad choice in colleges or flunked out it's not the banks fault.

I agree some/most colleges have increased their tuition fee's to where they are too high. But the students know the cost before entering class. If they can't afford it then they can go to a community or junior college. If enough did this the universities would have to start lowering cost.

This reminds me of the past recession where people stopped paying their mortgage loans because their loans became "underwater", suddenly owing more than the house is worth. Again, it's not the banks fault that they paid too much.

[mtnboomer]

That's pretty much it in a nutshell.