SNAP and free school meals… Good idea.
Housing assistance… Good idea.
Free community college or vocational school… Good idea.
$400b in additional debt just handed out… Not so sure.
What’s unfair is people have a choice. They can work their way thru school or they choose not to and borrow the maximum every year. You make a choice and there are consequences. I borrowed over $40k and didn’t finish (mostly due to mental illness). Real life kicks in. I ended up driving a semi OTR a few years later. With IBR my payments were manageable. While I made a bad choice regarding college loans I made good choices too (lived within my means and no kids). Living in a sleeper berth and showering at a different truckstop everyday is lousy, it stinks. But it pays the bills. With IBR it was doable. Without it… forget it.
A big part of the problem is the cost of school. But community college is cheap. Two years there or a vocational school isn’t a lot of money. Then two more years at a lower priced public school or online school and you’re done (and not $50k in debt). If you decide to go to some out of state university that is $25k a year it’s you’re choice. If you have rich parents paying for it you’re lucky. Most of us don’t. Scholarships are great too… hope you studied in HS! Choices have consequences.
I did eventually finish my BS in Health Administration about six years ago. It took me seven years to finish it online, sometimes taking one class a semester, but I’d sign up for more so I was back in deferment several years. I went to an affordable online college that was regionally accredited. The tuition was about $3500 a semester for as many classes as you could take. I was “cash pay” for it and never took out another loan. I had learned my lesson.
Federal Loan Limits:
Independent undergraduate students
First year
$9,500 overall; $3,500 subsidized
Second year
$10,500 overall; $4,500 subsidized
Third year and up
$12,500 overall; $5,500 subsidized
Total limit
$57,500 overall; $23,000 subsidized
CRAZY!!!
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