Cenk Uygur
@TheYoungTurks·6.5M subscribers·72.8K videos
Trump Wants To Ban Federal Student Loans
Posted
November 19, 2016
Views
297,858
Likes
5,110
Comments
2,789
Engagement
2.65%
November 19, 2016
297,858
5,110
2,789
2.65%
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7:00Now PlayingDonald Trump’s administration may do away with federal student loans. Cenk Uygur and Ana Kasparian, hosts of The Young Turks, break it down. Tell us what you think in the comment section below.
"Student loan debt is currently $1.2 trillion andgrows over $2,500 per second; in Trump parlance: that’s yuge. Many new graduates feel burdened with debt, which averages around $30,000.
Trump said throughout his campaign that he wants to do away with the Federal Student Loan program, arguing the government shouldn’t make a $41.3 billion profit from struggling students. He supports moving the federal loan system to private banks, making the student loan system a “marketplace and market driven.”
This means that loan worthiness might start to rely on factors outside of family credit history, like evaluating a college’s “student success” rate after graduation (e.g. landing a job) and the marketability of a student’s chosen major. In this model, loan eligibility will favor the engineer over the artist.
Income-based repayments will stay comparable to the Obama Administration. Borrowers will pay 12.5% of their income (versus the existing 10%) every month. Trump is against loan forgiveness, and it is uncertain if the current programs – including the 10-year amnesty for public sector workers – will stay intact during the next administration.”*
Read more here
Hosts: Cenk Uygur, Ana Kasparian
Cast: Cenk Uygur, Ana Kasparian
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Young Turk (n), 1. Young progressive or insurgent member of an institution, movement, or political party. 2. Young person who rebels against authority or societal expectations. (American Heritage Dictionary)
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