student loan programs

some people are interested in not justlimiting the rate is in the stafford about student loan interest rate theywant much more to be done and so there's a proposed bill this is a beach areforty one seventy i'm missing talked about a lot now and it has one millionsignatures are gathered on line to support it and what this would do is itwould forgive student loan debt what they would do is if you see hasmade payments eagle the ten percent but is discretionary income for ten yearsthe remaining federal student loan rate outfit to loan debt would be forgivenafter that point um... which is sort of similar i guess to something like iteach for america or one of those

programs we show that you're responsiblefor a number of years to contribute in some way and then eventually it'sforgiven arms that we don't have people paying thirty forty years something like that uh... and they would also permanentlycap the subsidized federal student loaninterest rate of three point four percent uh... what we talked about previouslybut the fact that they had actually stop it from doubling that's only a one-yearextension

uh... so what do you think about thatthe possibility of a bill like that so it's interesting because england that isthe only debt in the u_s_ that you cannot get rid of even in the case ofbankruptcy so you got a really think about thereasons for that it doesn't really make much sense because if a student oryza graduate ad doesn't have the moneyto pay off that loan where they need it you date like what what is the solutionto that leather so it does limit to ten percent recession income so they docheck your income

uh... act they disagree in terms the wording that you use fornot making sense mark i think that i would say it sucks as opposed to itdoesn't make sense i think it makes perfect sense that you can't get rid ofit by the cutbacks of doesn't know how do you think it makes for a piece thatwas so these are a big headache money i don't think it's fair i'm not sayingit's a moral and sing it makes sense that they made an exception that youcan't get rid of this in the reason is because this is the the most common big debtthat people

carry on like lots of people thirty sixmillion pounds in london if you could get rid of it by the cramping c lots ofpeople would you know i need tacitly getting rid ofit but i'm saying that that's why no i totally get and of course i knowthat that makes sense but i mean it's how does it make sense to force a person to carry these dadwhen you know here she does not have the money does not haveanything in order to pay forty cents a listing i certainly agree it's not fairyaa moral but that's how i would work it and know that the further on an articlewith a talk about the the possibility of

this bill h_r_ forty one seventy passing they say that because it took so longand so much political back and forth to get even the extension that's beingworked on right now for the three point four percent for the the supplies forloans victims don't change this gonna pass unfortunately which is really saduh... because they'd be given other reasons not just that it's fair or moralto help out these people that are being crushed by this debt under we'll talkmore about later on the program uh... but that it also be an incrediblestimulus for the economy that these people who are now paying two hundredthree hundred four hundred month

just towards interest payments aretowards their loans would instead be spending that money putting it back intothe economy and if you thirty six million people doing that all the suddenfrom one month of the uh... another that's not a huge affecting the economywill miss him yeah i definitely what n_e_a_'s you want to talk about stimulusthat would be a perfect example of real sadness because they would no longerhave to pay off my seat london but don't get me wrong i'm not sayingpeople should go out there and take out like hundreds of thousandsof of dollars in student loan debt irresponsibly

and then expect taxpayers to foot thatbill because that's exactly what's gonna happen here if they're not able to payfor the education specially when it comes to federal loans taxpayers are gonna have to pay yeahafford these people filing for bankruptcy not being able to pay thegovernment back so that's a definitely a downside and feel like there needs to beuh... a another regulation and you know safeguards in this case to make surethat it does it cost taxpayers too much moneybut in the case of students not being able to pay off their loan in a file forbankruptcy in their in complete

financial distress i think it makessense to forgive their sin