Page 4 - Repayment Programs News Today

Problem." im so glad to have you, what its going to mean for the bigger picture and the bigger problem when it comes to the education system in this country and access to education. talk to us a little bit about that, how this might just be the first step but what more needs to happen. >> yeah, when you think about the sort of higher education, there are a couple of issues that we had -- that we have had for the last several decades. one of them is the sort of student loan debt crisis. what do y...

Its an investment that pays off for most people, not everyone. theres a lot of fly by night operations that produce degrees, but are worthless, a lot of students never graduate, they take on the debt, and never get the benefit of the degree. this doesnt solve any of that. some of the changes that were announced will effectively make college cheaper for people in the sense that the changes to the income driven repayment programs will cap the payments that people make by month, essentially, and th...

Federal government to get untraceable ghost guns off the streets. cbs jeff pegues shows us why these guns are so dangerous. >> reporter: this is a ghost gun. its something that can be produced on a printer. and you can get it for less than $200. >> odonnell: and weve all heard about the summer slump. but what impact did the pandemic have on americas school children? the startling details with cbs meg oliver. >> this is the "cbs evening news" with norah odonnell, reporting from the nations capita...

Policy, so people can move on with their lives. >> policy meaning canceling debt. so how much debt, and how do you apply it in a fair way that, you know, anyone who has debt can feel like it was meaningful? there are some who went to private school and have six figure debt versus those who have only, only in quotations, you know, $15,000 debt. >> right. i know. it is sad we say only with 15. we need to cancel as much debt as we possibly can. while income limits may seem fair, they cause applicat...

Type of grace period so that borrowers who miss a payment during the first few months of repayment dont get dinged on their credit reports. theyre looking at ways to make it easier for borrowers to enroll in and stay enrolled in income-based repayment programs that keep their payments affordable. theyre trying to do some target outreach campaigns to particularly at-risk borrowers and theyre also looking at a broader strategy of erasing millions of defaults from borrowers who fell behind before t...

Remember a couple of facts about this. we have one and a half trillion dollars that the government is owed and unpaid student loans on its way to 2 trillion. this is the largest single liability in the federal budget. also remember that as students who start college, about 50% of them do not finish within six years. so a lot of people are ending up holding debt without a degree and without a job. this affects peoples choices in life and so on. its a big problem, its been avoided by a lot of peop...

Your student debt. so no, thats not the right thing to do. if people have a lot of debt now, i want to have programs where they can refinance their loans at lower rates and with more flexible repayment programs. but its more of a point of how unfair this system is. weve got a lot of things in this country, jake, as you know, that are structurally unfair. right, where kind of the little guy is getting a bad deal. and this is a good example, i think. >> i want to bring in jacquelyn le vornia, work...