Originally Posted by
PGHBulldogBG
I completely sympathize with the students and understand the bad financial situation these loans put them in. I definitely sympathize with them more than the boomers complaining making the usual ?back in my day statements I had to do and pay?.? because they are not educated on the current student loan situation, but nevertheless this is not a good solution. Waiving $10K in student loans for borrowers is not the answer to a long term problem. There is nothing in this plan to stop people from borrowing more money or addressing the compound interest that is one of the main issues with student loans and the high balances. All these student loans need to be set up on payment plans for the principle balances and no longer accrue interest from past years. There?s your solution. Pay what you owe but don?t let them profit off you. If you take out loans moving forward, interest rates need to be fixed and students need to be educated on the impacts of student loans. This is not happening in financial aid offices at colleges