Thursday, November 3, 2011

Think Before You Support

At first glance this plan seems like a winner in the eyes of students and former students who have miles of debt, but I have to disagree that this plan will even remotely help anyone right now.  While this plan seems like a great idea I believe there are still too many open ends left open to even consider this as a possible option for student debt.  My biggest question is what would happen to all of the leftover debt after the twenty year limit is up?  Would it just disappear into thin air or would the government be held accountable for the left over debt?  If the government were held accountable for the debt it would increase our national debt to a number that is already entirely too large.  The idea looks great to the young adults who are now or getting ready to attend college but I believe that this proposal is a stunt by Obama to help him gain more support for the upcoming election next year.  I think that Obama should be focused on how high the cost of college has become first and then focus on getting loans paid off.  By focusing on the cost of college first he could cut the number of student loans by a considerable rate.  This would in turn make the payoff rate for college loans much shorter.  The cost of obtaininga higher education has become too high and something needs to be done to stopit from climbing.  I believe that students should consider this before they start supporting this plan. 

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