Higher education is essential to maintaining a competitive society that is to thrive in a global economy, but unfortunately the cost of college in America has been skyrocketing out of control.
There is roughly somewhere between $902 billion and $1 trillion in total outstanding student loan debt in the United States today. That is why I am proposing that we make student loan repayment pre-tax. This will allow students to pay down their debt quicker, guarantee repayment to the government in a timely manner, and encourage students to take that leap into higher education.
Let's start with $600-$1000 a month pre-tax. We can start with federal loans and eventually move towards private loans. This will encourage educational growth, increase disposable income, reduce debt, and ensure payment.