After 20 years in the program, any remaining debt is forgiven -- although the balance may be subject to federal income tax for borrowers.
While this may help a big number of borrowers, students are still suffering despite the recent assistance.
Obama has laid a safety net for those who can't afford to dish out 30 percent or more of their income every month, but it's still a hefty sum to hand over 10 percent of your paycheck for 20 years. And the more tuition assistance and loan repayment options are offered to students, the more colleges -- hurting from state budget cuts -- can raise tuition rates. It's a never-ending tumble, deeper and deeper into graduates' pockets.
Obama got it right by placing a cap on the percentage of student loan debt to be repaid.
Now, it's time to force state legislatures to stop raising tuition and cutting state support of higher education. It's time for taxpayers to recognize that a well-educated work force -- and today that means a college education or trade school certificate -- benefits all of us in the end.
(c)2014 the Moscow-Pullman Daily News (Moscow, Idaho)
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