The student loan bubble is about to pop!!! A simple 3 prong plan would make a huge difference in the lives of millions and give more disposable income into the pockets of hard working member's of society to inject back into the economy.
-1. Remove the tax burden of forgiven loans. Despite payments for 25 years, many students debts will triple due to interest over the life of the loan will face HUGE taxes after 25 yrs.
-2. Income that is used to pay Student Loans should not be taxable. If we are taxed on our ability to help, is money that goes right to education really income?
-3. Student Loan interest should not be capped. It should be treated like mortgage interest. Why does education not get the same benefits of home ownership? Is it not a good idea to incentive education?
Thanks
JH