Student loan debt is a major problem in the United States. The average amount owed per borrower is about $30,000, with some students owing well over $100,000. The government has tried to address the need to allow students to pay back federal loans based on income, however PRIVATE student loan debt has not yet been addressed. As an elementary school educator in NYS, I have about $100,000 in federal debt and $100,000 in Private debt, and that is with attending a state college for 5 years and 2 years of a Master's Degree. With payments being through the roof for private loan repayment, I can not begin to pay my federal loan debt , shop or buy a house. This impacts many others in my generation. We could better stimulate the economy if private student loan debt is decreased and or eliminated.
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