with an average interest rate of 6.5%

That works out to a monthly payment of $454/month.

However, people who get graduate and professional (doctors, lawyers, etc) degrees typically end up with much more debt and the average is $90K for those people. On the same terms, that works out to a monthly payment of over $1000.

As far as I can tell, this proposal will just mean fewer people going to college. Fewer students means higher prices which will lead to even fewer students and so on in a death spiral as lots of smaller colleges are forced to close or merge to stay viable. This proposal does not make college more affordable.

BTW, the Federal Pell Grant program cost $30B per year as compared to the $100B of new student loans issued per year.

will default on the loans .
What do the repugs think would happen ?


✌🏻

I’m beyond screwed. My plans for the future like buying a house or saving for retirement would die.

post-election, pukes begin to attempt to enact the actual GQPee agenda -- make education harder to get, impose more financial burdens on the middle and working classes to fund massive tax cuts for the wealthy. Work to make America a stupider, poorer place for most people. Too bad so many 'Muricans couldn't understand this before the election.

And they don't want to have to pay any pesky progressive taxes when they finally get there.

It IS the American dream after all.

Actions have consequences