Student loans hidden gem in health bill

“The new health care bill also included, which has brewed so much controversy in only a few days, some may not know also included a revamped student loan program. With all of the complaining about the health care portion of the bill, the restructured student loan program has been pushed out of the spotlight.”

The new health care bill, which has brewed so much controversy in only a few days, some may not know also included a revamped student loan program.

With all of the complaining about the health care portion of the bill, the restructured student loan program has been pushed out of the spotlight.

The restructuring will streamline the process and increase the amount of need-based Pell grants from roughly $5,000 to nearly $6,000 in the next 10 years.

This deserves as much focus as the better known health care revamping. It may not seem like much, but every little bit will help college graduates.

Although it might not directly affect every person in America, it does affect the growing population of college students struggling to earn their degrees.

Of all people, the college community should be more than ecstatic about this legislation.

The average undergraduate leaves campus with more than $30,000 in debt and graduate degree holders have more than $100,000 in debt.

With this new proposal, repayment of individual monstrous debt will be limited to 10 percent of income of borrowers, starting in 2014.

This may at least help recent college graduates afford to eat, not to mention pay for their health care.

Rather than arguing, getting red in the face, and making threats to the president, maybe we should look at all that is involved in the bill before complaining.

The health care revamping is not everything it could be, but let’s at least admit that there is some good involved in the health care bill.

Health care will be provided to those who would otherwise not have been able to receive it and student loans will become less expensive to pay back.

Bob Nelson, a Democrat from Nebraska, has stated that he is against such action because it would result in thousands of lost jobs.

This is probably because he represents a state with many loan industry employers.

Thousands of lost jobs in one industry are just as bad as billions of college graduates in debt, keeping the economy depressed for years to come.

Instead of siding with our specific political parties that pander for votes, perhaps we should look at the issue and every aspect of a bill regardless of our political affiliation.
Let’s base decisions on what we believe is best for the long term future of the country and not just the short term.

Changing the student loan policy, taking out the middle man and helping more college graduates eliminate their debt is a good plan no matter how liberal it is.