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Of the outstanding debts, only 60% have plans of repaying while the rest either ask for loan forgiveness or default indicating that the students are in financial distress. The debt crisis in America calls for long term solutions. This will suggest solutions to the ever-increasing student debt crisis in America
Solutions to the student debt crisis lie with the federal government policies that address student loans and its associated problems. Several people proposed policies that are helpful in handling debt crisis among the American students. The proposed Responsible Student Loan Act should be implemented to help in dealing with the problem of debt crisis among the federal students. This Act was reset to include the percentage determined by the education secretary that covers administration and borrowers benefits. This plan focused on the interest rates that are related to the needs of the borrowers. It also sought to cap the federal subsidized loan by 6.8% while the unsubsidized loans and the parent loans capped at 8.25%. This Act also proposed that the education secretary in America should reissue the PLUS loans and the federal Stanford (Federal Reserve Bank of New York 102).
The US government should reform the bankruptcy code that is currently offering financial distress to the loan borrowers both at individual and business level. The code must reformation in order to allow the students and the business people to expunge their debts and restart their projects. The fresh start of their lives is difficult for the students with loan debts because the congress enacted legislation that prohibits discharging the federal students from their loans in the cases of bankruptcy. The 2005 act extended the undue hardship of the borrowers thus making students suffer highly from the financial debt crisis especially from the private loans. Furthermore, the bankruptcy codes prohibiting erasing of private loans from
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In the last twenty years scientific knowledge has led to the understanding that anthropogenic, human made actions were responsible for the changes on global climate. Those changes are a consequence of the emission and accumulation of greenhouse gases on the atmosphere.
As disclosed, the cost of college education has significantly increased for the comparative periods 1999 to 2000, as compared to a decade hence forward by as much as an average of 31% for public and private college institutions. To enable the students to pursue higher education, most resort to financial aid or student loans.
They observe that “crippling debt” does not affect students from for-profit colleges and graduate schools only, but many other kinds of college students too.They used the study of Federal Reserve Bank of New York to state that for “all borrowers, the average debt in 2011 was $23,300, with 10 percent owing more than $54,000 and 3 percent more than $100,000, the reports.”
Thanks to these student loans which provides us with all the required financial assistance and aid which helps in achieving a successful future ahead. With increasing inflation, the cost of education is also proliferating and universities, according to a study done during 1999 to 2000 both public and private are asking for ample education fee (Millet 427).
That said, clearly nature has some investment in these “variations upon a theme” that form the biodiversity of life on the planet. However, current genetic engineering endeavors with grand goals and good intentions, offers a long list of potential approaches and applications to treat diseases, injuries, and the food production, both plant and livestock.
But from a scholarly point of view, it can be explained as “the raising of the Earth’s temperature” (Dispensa & Brule, 2003, p.87) due to the increasing entrapment of solar-heat, in the atmosphere, by the greenhouse gasses such as “the introduction of Carbon dioxide, Methane, and other gases” (Dispensa & Brule, 2003, p.87) etc.
According to the report the debtors are concentrated in the younger segment of the population; thus more than 60 percent of the total loans are given to students between ages of 18 to 35.Therefore, the student loan debts has become the norm for many families and young people seeking higher education.
Brazil implemented a program of industrial expansion. Argentina and Chile established an overvalued exchange rate policy as an integral part of anti-inflationary strategy. Diverse government policies led these Latin American countries to defective exchange rate policies and excessive dependence on external capital flows
Among the negative consequences of having too much debt is, first of all, a potential of getting a bad credit history and, consequently, inability to receive other debts in the future. A too large debt amount may make it for
it, issued in the second quarter of 2010, outstanding students debts has exceeded that depicted by auto loans and credit cards with the default rates reaching the highest level in the past few years (Brown et.al). This report further indicates increasing negligence rates which
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