Here’s a thought:
Why don’t we create a type of ‘401k’ program through businesses that would instead pay student loans back? It would incentivize students to get jobs as soon as possible, and would alleviate government responsibility. reality is, I barely contribute to a 401k because of my bills, and school loans is one big reason why. I’m sick of the government deciding my fate on everything I do, because they can’t decide on anything.
Student loan rates set to double on July 1
The interest rate on government-backed student loans is going to double on Monday as policymakers in Washington could not agree on a plan to keep it from happening this session. If they don’t agree on a plan soon, 7 million students expected to take out new Stafford loans could be stuck with a much bigger bill.
Read more and listen to the story on Morning Edition here.