Looking on Google 1 in 4 Americans have student loans debt. This is an estimated average of 44.7 million people. Average student loan debt amount is $37,172. According to student loan debt statistics for 2019
Americans owe over $1.56 trillion in student loan debt, spread out among about 45 million borrowers. That’s about $521 billion more than the total U.S. credit card debt.
My strategy to help lower the debt just from student loans is to take a portion of the taxes from each college student paycheck and place that toward the student debt. 2) When students graduate create more programs to help the American students find jobs, careers after college so they can not only be able to support themselves and their family but be able to pay back the loans that they have taken out during their tenure of college (both undergrad and graduate). There’s a problem these student are going to college spending thousands of dollars doing all the work and meeting certain criteria but when it’s time for them to go into the workforce very little are obtain careers and jobs with their degree on any level Associates degree- Ph.D. 3) make college free. No more loans added to the financial aid and get rid of loans period. To obtain a free education, something that no one can take away from people is very costly in the end, but is it worth it? 4) what could possibly lower the student debt is if the American citizens could speak out more about how these loan bureau places are over charging for these loans. They are increasing the payback amount before some students even finish school. That also is increasing the debt. 5) America should adopt a system where if you don’t have a job then you don’t have to pay back your loans until you land a job. This would also lower or maintain the debt where it is at. 6) The people just become wiser in using loans for college and be careful with borrowing more than they need to. Because I wonder how much of that money is used for school expenses and how much is for personal usage. Now let’s be realistic that does happen without taking into account that money has to be payed back with interest.
What will it take for the government to erase student debt?
Should “student loan forgiveness” be made a law?
Will erasing student debt be a start in fixing the US economy debt problem?
Do you think such a law will ever be passed?
What are some strategies that the US people and the government should come up with to decrease student loan debt?