Student Loan Consolidation : Curriculum Vitae
Education Finance
Introduction: Why talk about debt?
As you think about what policies could reduce debt and improve access and affordability, the issue of cost will naturally come up. Obviously, soaring tuition is part of the problem. But it is already one of the Commission’s focus areas, and the issue gets lots of public attention as it is. The role of loans and the risks of rising student debt, on the other hand, are not on the Commission’s agenda, even though they deeply affect millions of students and their families. Especially now that congress has passed a bill which raises interest rates and the cost of borrowing student loans, it’s more important than ever to address the student debt issue. Even if tuition froze at today’s levels, the need for student loans and the cost of borrowing would continue to rise without major reforms. Getting Started With Solutions to Student Debt at your campus Reading through the solutions section as well as the Student Loan Policy 101 in this primer will show you how the current loan programs work and how complicated they can be. Hopefully it will also give you some new ideas for how to simplify the system and help more students both afford college and get ahead after graduation. But do not feel locked in to choosing solutions that are listed here. Come up with your own. Ask yourself the following questions: Who needs the most help? Where can changes make the biggest difference? What’s not working about our policies now? Remember to consider new approaches and reforms that you don’t find in this guide. Whatever you come up with, don’t get too wrapped up in the details of the policy. Focus on outcomes – how your recommendations would affect students and borrowers. As long as so many students depend on loans to help pay for the true costs of college, we need to make sure that borrowers aren’t condemned to a lifetime of debt, instead of the opportunity and prosperity that higher education is supposed to provide. Finally, consider how decisions are made. Tuition at public institutions depends primarily on state budget allocations; at private institutions on decisions made by the school itself. However, the federal government directly controls billions of dollars in grants and loans to college students at all types of institutions across the country. The federal system’s approach to debt can be improved on a mass scale through both legislative and regulatory channels.REFERENCE SITES:
www.consolidate-student-loans.ws
www.consolidationloanschool.net