Oct 272011
 
Authors: Collegian Editorial Board

This past Wednesday President Barack Obama came to Denver to discuss his plan to relieve some of the burden of student loans beginning in 2012.

His plan to cap student loan payments at 10 percent of a borrower’s discretionary income per month, and forgive any remaining balance after 20 years, is good for many CSU students.
According to the Office of Institutional Research at CSU, more than 18,000 students use some form of financial aid to pay for school.

The inevitable future of paying loans off after graduation is a stressful, fearful fate, and this plan could help alleviate some of this burden.

The plan also shows hope that it might stimulate the economy. If college graduate students are spending less money on paying back their student loans, that money could get put back into the economy through other investments.

However, Obama’s visit to Denver seemed like more of a campaign ploy than a genuine presentation of this plan.

According to Gallup polls, his approval rating in Colorado has continuously dropped during the past two years, and it is now below 50 percent.

It seems pretty strategic of him to bring seemingly good news of a plan that might help stimulate the nation’s economy to a state in which he really needs to improve his reputation.

So, although we believe Obama’s student loan plan has potential to actually help some of us pay off large lumps of loans after graduation, his presence in Denver was mainly just a campaign stop.

 Posted by at 3:35 pm

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