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Student Loan Bailouts

CollegeLoans

For many people, getting a college education is the first step into the career they want.

With the economy in the shape it’s in, however, it’s no secret that the cost of that education is not exactly dropping. That’s why for many people, today’s announcement from President Obama about the government working to alleviate some of the cost of student loans is a welcome one.

The President’s plan, which “reduces the maximum required payment on student loans” will go into effect next year, instead of 2014 as originally planned. The change could affect about 1.6 million former students. Some are arguing, however, that the plan leaves a lot to be desired — and will only cut expenses down on loans by about $10 per month. Others feel that the plan, which puts more of cost burden back on lenders, will lead to lost jobs in that industry.

We want to hear from you on this issue. Vote in the poll and tell us if you think there should be a bailout for students loans. If you leave a comment, make sure to tell us your first name, city and state – we might share your response on the show.

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