Student loans should not be a constant burden with no hope of being paid off. The current interest rate for most students is over 6.75% which is higher than a new car loan, a home mortgage, and most other long-term loans.This allows less than 15% of current payments to go to the actual principle per year. Also, those who are unemployed are placed in default if they do not meet all criteria for deferment. If you meet the requirements for receiving unemployment, then you should be able to defer student loan payments at that time without penalty. Families are unable to pay off the parents' 2 loans while trying to plan to pay for their children's education.
Please help make student loans a payable debt, rather than a 30 year burden preventing an increase to quality of life.
This is historical material “frozen in time”. The website is no longer updated and links to external websites and some internal pages may not work.
