College without crushing debt?
Young people need a college degree to get a decent job, which means they need to borrow. And, if they can’t get that decent job, they’re stuck with crushing, credit-ruining, undischargeable debt,...
View ArticleSafety net or windfall for student debtors?
President Obama proposes expanding income-based repayment of student loans: Debtors would pay 10 percent of their discretionary income, down from 15 percent, and the loan balance would be forgiven...
View Article‘Repayment’ plan = loan forgiveness
President Obama’s more generous plan for income-based repayment of student loans means “typical undergraduate borrowers will not repay their loans,” writes Andrew Gillen, now research director at...
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44% underemployment for new grads is OK
44% of Young College Grads Are Underemployed (and That’s Good News), writes Jordan Weissmann in The Atlantic. In a weak economy, many new graduates have to take jobs that don’t require a college...
View ArticleStudent aid reforms proposed
A House education subcommittee heard proposals for reforming Pell Grants. Income-based repayment gives the largest subsidies to borrowers who go to graduate or professional school and people in “public...
View ArticleFeds will make college pay — or else
For now, proposed “gainful employment” regulations are aimed at for-profit colleges and career programs at nonprofits. If too many students in a program default on loans or pile up too much debt...
View ArticleObama extends 10% cap on loan repayment
Using an executive order, President Obama extended generous income-based repayment terms to an estimated five million more student loan debtors. People with student loans will be able to limit payments...
View ArticleBorrowing trouble
President Obama’s expansion of income-based repayment offers short-term relief, but will encourage reckless borrowing, enable colleges to keep raising tuition and promote the idea that everyone needs a...
View ArticleLoan forgiveness rewards big spenders
The public service loan forgiveness (PSLF) program offers big benefits and bad incentives, writes New America’s Jason Delisle in Zero Marginal Cost. For graduate students planning careers in teaching,...
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Income-based repayment soars
Graduates at George Washington University’s 2015 commencement. Photo: Alex Brandon/Associated Press Student loan holders are jumping to sign up for income-based repayment plans, writes Mikhail...
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