Student loan payments to drop 5 percent in 2012
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Student loan payments to drop 5 percent in 2012
Swinderman Otrdiena Novembris 01, 2011 9:31 am
President Barack Obama announced that he was dropping the student loan debt payments from 15 percent of the maximum percentage of income that students currently pay to 10 percent last Tuesday.
According to the Federal Reserve Bankcheap nfl jerseys of New York, students took out more than $100 billion in loans in 2010, and will have $1 trillion in outstanding loans this year -- twice the amount of five years ago.
Sam Houston State University is ranked second, after Princeton University, for having the least student debt incurred by graduates according to a recent U.S. News & World Report ranking of colleges with the most and least student debt. For the class of 2010, 46 percent of SHSU graduates had an average amount of $7,602 in debt.
The overall average student debt in the wholesale nfl jerseysU.S. is roughly $24,500.
While more than 36 million Americans have federal student loan debt, less than 450,000 Americans participate in income-based repayment, according to the White House.
Some SHSU graduates say that they have looked into the debt reduction plan.
Jawsh Orin, an SHSU criminal justice alumnus, said he researched the plan online and found an unflattering statistic.
"I think it's a load of horse crap," Orin said.
Other graduates welcome the idea of a reduction.
"I still do not have a job, so it's been a stretch to have to pay $300 every month for a $24,000 loan," Jessika Villarreal, a 2010 SHSU criminal justice graduate, said. "[My husband and I] manage, but it's (tough). I wish a job was waiting for us when we get out of school so when the six month period is over we do not have to be burdened with a payment."
Current SHSU students with federal student loans will be affected by the reduction once they graduate.
"It's helping out students and [in turn, a lot of] parents," Raven Michael, a criminal justice freshman, said. "It's a great start."
Tuition and fees at public four-year colleges and universities jumped 8.3 percent nationwide for the 2011-2012 school year. The numbers were skewed by California, which raised in-state tuition and fees by a 21 percent this year. But even without California, costs rose seven pCheap NFL Jerseysercent, according to the College Board's annual "Trends in College Pricing" according to CNBC News.
The Occupy Wall Street movement has brought up the need for financial relief for college graduates and has stirred up the possibility for a student loan bail out.
"I would love to have a bail out just like they have done for [much of the economy]," Villarreal said. "Having the thought of knowing you do not have to pay a student loan is great of course. I say, bring it."
The reduction goes into affect January of 2012.http://cuty.riadah.org/t10-student-loan-payments-to-drop-5-percent-in-2012
According to the Federal Reserve Bankcheap nfl jerseys of New York, students took out more than $100 billion in loans in 2010, and will have $1 trillion in outstanding loans this year -- twice the amount of five years ago.
Sam Houston State University is ranked second, after Princeton University, for having the least student debt incurred by graduates according to a recent U.S. News & World Report ranking of colleges with the most and least student debt. For the class of 2010, 46 percent of SHSU graduates had an average amount of $7,602 in debt.
The overall average student debt in the wholesale nfl jerseysU.S. is roughly $24,500.
While more than 36 million Americans have federal student loan debt, less than 450,000 Americans participate in income-based repayment, according to the White House.
Some SHSU graduates say that they have looked into the debt reduction plan.
Jawsh Orin, an SHSU criminal justice alumnus, said he researched the plan online and found an unflattering statistic.
"I think it's a load of horse crap," Orin said.
Other graduates welcome the idea of a reduction.
"I still do not have a job, so it's been a stretch to have to pay $300 every month for a $24,000 loan," Jessika Villarreal, a 2010 SHSU criminal justice graduate, said. "[My husband and I] manage, but it's (tough). I wish a job was waiting for us when we get out of school so when the six month period is over we do not have to be burdened with a payment."
Current SHSU students with federal student loans will be affected by the reduction once they graduate.
"It's helping out students and [in turn, a lot of] parents," Raven Michael, a criminal justice freshman, said. "It's a great start."
Tuition and fees at public four-year colleges and universities jumped 8.3 percent nationwide for the 2011-2012 school year. The numbers were skewed by California, which raised in-state tuition and fees by a 21 percent this year. But even without California, costs rose seven pCheap NFL Jerseysercent, according to the College Board's annual "Trends in College Pricing" according to CNBC News.
The Occupy Wall Street movement has brought up the need for financial relief for college graduates and has stirred up the possibility for a student loan bail out.
"I would love to have a bail out just like they have done for [much of the economy]," Villarreal said. "Having the thought of knowing you do not have to pay a student loan is great of course. I say, bring it."
The reduction goes into affect January of 2012.http://cuty.riadah.org/t10-student-loan-payments-to-drop-5-percent-in-2012
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