Author: David Chen

Hillary Clinton’s New College Compact Would Have Significant Costs for Taxpayers

With student loan debt currently at $1.4 trillion in the United States, the cost of higher education and the burden of student loans is a major point of contention.  Presidential candidate Hillary Clinton has released a “New College Compact” outlining her approach to education and how she would change the system. And while her plan has bold suggestions on how to reform higher education, the compact has significant ramifications for taxpayers, leaving the American public to shoulder hefty increases to pay for her proposals. The New College Compact The New College Compact has the following core components: Removing Cost...

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How Private Student Loan Lenders Are Solving a $1.3 Trillion Crisis

The United States is currently facing a crippling $1.3 trillion student loan crisis; that amount continues to grow at a pace of $2,726 every second. The student loan debt burden outpaces credit card debt and auto loans. 40 million Americans carry some kind of student loan, and nearly 75 percent of graduates have debt. This poses a significant threat to the U.S. economy, as millions of borrowers struggle to keep up with their payments. As a consequence, college graduates are delaying buying a home, getting married or even launching their own business, limiting small business development and growth. Stagnant...

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Why 100% Student Loan Forgiveness is a Hopeless Pipe Dream

In June, talk show host Rush Limbaugh predicted that presidential candidate Hillary Clinton would announce a plan that would forgive all student loans for current graduates. Stating that it was a potential grab to appeal to millennial voters, Limbaugh said she had already hinted at it when she stated she considered it outrageous that students have to take on so much debt to get a degree without the option to refinance federal loans. To appeal to Bernie Sanders voters who are not won over yet by Clinton, this may be her attempt to bring them over to her side....

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Why Student Loans Aren’t the Devil

Student loans get a bad rap most of the time, but they are not necessarily evil. The student loan industry was formed with noble intentions—to make college a possibility for all, regardless of circumstances. For first-generation or low-income students, loans were a ticket to a valuable degree and a secure financial future. Today, student loans still help millions get an education they otherwise wouldn’t be able to afford, making them eligible for higher paying careers. Increasingly, bachelor’s degrees or higher are needed to get jobs that pay a decent wage, so student loans can help bridge the gap. If...

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