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Author: admin | Category: Calculatrice Pret Auto | Date: 17.04.2015

If you're one of the 37 million Americans with student loan debt, you're in for a real treat come July 1.
Although mortgage debt is still the largest category of debt in the United States, the amount of debt held by students recently surpassed both credit card and auto loan debt. We took a look at politicians' proposals for remedying this gloomy state of affairs, both the long-term solutions and the short-term band-aids.
Obama's plan: Under the plan Obama laid out in his budget, the interest rate at which student loans are issued would vary depending on the economy.
One drawback of this plan is that there is no limit on how high initial interest rates can be set year to year. Obama's plan is also the only one out there that would aid low-income borrowers once they graduate by letting them cap their monthly loan payments to 10 percent of their income.
But the main piece of legislation governing higher education in the United States will expire next year, so there's good reason to think that lawmakers may opt for a short-term fix this year and wait until next year to come up with a permanent solution. A recent University of Michigan report on the financial health of the American family reminded me of the old joke about Bill Gates and Warren Buffett, who walked into a bar and immediately made the average patron a millionaire. Such dynamics aren’t surprising, the researchers tell us, adding that a rush to safe assets is exactly what should be expected in the aftermath of a financial crisis.
So, even as the personal savings rate has, on average, more than doubled in the aftermath of the financial crisis, the proportion of U.S. I expect that we will be hearing a great deal more about the rising student debt in the months to come.


Moreover, the rise of college costs has been outpacing the growth of the median American family income since about 1982. And even though average savings levels have gone up since 2008, our data show that there has been no improvement in financial liquidity between 2009 and 2011, except among families with more than $50,000 in savings and other liquid assets.
Stafford expects that the home mortgage crisis, which his data suggest is slowly unwinding, will continue for a few more years, but it will affect a smaller share of American families. Rates would be pegged to the rate at which the government borrows money over the long term (currently at around 2 percent). But once the student has borrowed the money, the interest rate would be fixed for the life of the loan.
That means you could take out a loan at a super-low rate, and end up paying a 8.5 percent a few years down the line. It would cut need-based undergrad loan interest rates to the same low 0.75 percent interest rate that banks pay to the Federal Reserve for short-term loans. Akers says she thinks the final plan will be something of a compromise between Obama's plan and the House Republican proposal.
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Similarly, since 2008, the average American family’s savings level has improved, we learn; however, that is the result of more families having $50,000 or more in liquid assets. A part of this rise is student loan balances, which have been shown as one of the rising household debt components since 2008.


To make matters worse, college costs have been rising at an accelerating rate throughout the crisis, even as the family income growth has become slightly negative, as you can see in the chart below. The only question is whether it will be a managed process or a chaotically destructive one. Since 2004, student loan debt in this country has tripled, and now stands close to $1 trillion. In that sense, it's sort of a compromise between Obama's proposal and House Republicans' bill. In case of trademark issues please contact the domain owner directly (contact information can be found in whois).
While these estimates imply that there is the potential for assets accumulating at the aggregate level as the overall rate of saving grows, the estimates based on Table 5 suggest a substantial heterogeneity across families. During the same period, the ratio of families with more than $50,000 in savings has increased by close to 20 percent.What about Student Debt? According to the New York Times, 94 percent of students earning a bachelor’s degree today take out loans to pay for it — up from 45 percent in 1993.
The New America Foundation, a nonpartisan public policy shop, says the proposal would result in a significant drop in interest rates for students.



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