Week 17: Undoing a Generation of Student Loan Debt

Week 17: Undoing a Generation of Student Loan Debt

October 30, 2017

 
Week seventeen
Undoing A Generation of
Student Loan Debt   
A recent article from Student Loan Hero revealed that the average 2016 college graduates are $37,172 in debt.  (1)   With student loan debt well into the trillions, many new professional are victims of garnished wages and income taxes. 
How can students achieve the American dream under these unfortunate circumstances?  Some solutions include the government allowing students a grace period of at least one year post graduation before loans go into repayment. This would alleviate the stress and pressure of immediately beginning to repay student loans. Secondly, the federal government could stop charging interest on current student's loans and remove all interest-bearing loans from financial aid practices.   Lastly, creating apprenticeships for on-the-job training while earning income places the student in a better economic advantage. All students should be granted access and affordability to a higher education without severe financial debt.
 
LET'S GO!
Ending Student Loan Debt, In Depth. 
  1. Learn more about the student loan debt crisis by watching this  video from the Brookings Institution.
Planning Financially for College
 
As we look ahead, it is clear that the cost of a college education is continually increasing. Currently the average student (without financial aid) pays approximately $100,000 if they attend a public college for four years. A student attending a private college will spend approximately $200,000 in four years. Scholarships and other types of financial aid can help pay for your  tuition, books, fees, and possibly housing. 
(For Elementary School Students)
As you start the new school year, consider all the wonderful places  you'll go! Learn new skills, build on your strengths, and develop your talents!   Listen to a read aloud  of  Oh, The Places You'll Go by Dr. Seuss. If you have the book at home, or can get it from your school library, read along. Turn the page, when you hear the "ding!" 
(For Middle and High School Students)
As you go down the path toward college, the keys to your success are in your hands! Making good grades and graduating high school are actions you can take today that will affect the rest of your life! Check out this Rice College video called Welcome to College.
 
To find out more about financial planning for your education and future, click below.
SHARE YOUR STORY
 
Are you aware of an organization that helps students cut back on student loans or how to recover from student loan debt? What solutions were successful for you? Share with us. Share your story and encourage someone today.
#MLK50NCRM
 
 
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