The issue of student loan debt has barely been addressed by Congress. The facts are that the price of higher education has increased each year, faster than the rise of income.
The cost of education has far exceeded the average entry level annual salary. The Income-Based Repayment plan helps individuals pay their loans based on their current income. And after 10-25 years, the debt is said to be forgiven. However, with any forgiven debt, the IRS views as income. For individuals who pursued graduate studies and have a six-figure debt but not a six-figure salary, the future of expecting to pay $100,000+ to the IRS in one payment is a huge challenge.
Reform IBR and fully forgive student debt after payments of 25 years.