The federal government has made some big changes in the way student loans are handed out. We asked financial planner Karen Lee to guide us through the new regulations. And we asked her a couple of key questions. Will the cost of student loans come down? How can you get help?
Tony, You mentioned a health care bubble, I live in Northern NY. A very rural area. I dare say one quarter of our nurses and doctors on the northern border are now Canadian. They have either moved here or travel back and forth every day to work. Those jobs could and should be our own students. The students need more incentives to finish collage and go to work in romote areas,
the question of whether or not to save for college is really one that targets the psychology of the american consumer. loans for college can dwarf a mortgage- which has recently been far easier to get, tax deductible and at a lower interest rate. as with anything, if you have the money, you don't have to borrow it for anything. without the availability of loans, the most elite schools would once again be closed to the very few who break the aristocratic ranks and get accepted through scholarship to legitimize the mediocrity of those given a free ride through sports or legacy. tuition at the top schools are higher than our national average salary of $40,000. this great democracy of ours allows for dreams to still come true- but at a price.