Why College Debt, Entrepreneur and Success Can Be Used in the Same Sentence: "Scott Gerber has penned an interesting article for the Huffington Post. He alleges that a collective student loan debt of $1 trillion bars Millennials – aka members of Generation Y or the Trophy Generation – from following up on entrepreneurial dreams that would let them “actively take part in any job creation solution.” Gerber goes on to decry the sidelining of educated “entrepreneurially-charged individuals” – ostensibly because they cannot afford to start businesses with crushing debt hanging over their heads.
There is, of course, an answer to the problem. In fact, this answer has been around since 2007, when the Bush Administration created the Income Based Repayment (IBR) scheme for student loan borrowers. Students with crushing debt could cap federal student loan payments at 15 percent of their incomes and then take up to 25 years to repay the loans. "
'via Blog this'
No comments:
Post a Comment