SLAC’S PLAN FOR SMALLER STUDENT LOANS
Studies show that the average student from a four-year, public college is now graduating with student loan debt of about $14,000. That means that the student has college costs of around $3,500 per year. Studies show also that the costs that the college administrators are contending with have not been rising — they have just been shifting ways of meeting those costs to students and their parents.
HERE IS THE SLAC NATIONWIDE PLAN THAT ITS MEMBERSHIP WILL PRESS FOR:
1. PUBLIC COLLEGES REDUCE TUITION AND COSTS TO 25% OF WHAT THEY ARE NOW, PHASED IN BY REDUCING 20% PER YEAR.
2. STUDENT LOAN BORROWERS MAY REDUCE THEIR LOAN BALANCES UP TO $1450 PER YEAR BY VOLUNTEERING UP TO 200 HOURS FOR CIVIC TASKS.
When the change is phased in, borrowed amounts per student would be $3,500, not $14,000 and students should be able to work all that off even before they graduate. Amounts needed during the phase-in period will run higher because the costs will not have been brought all the way down yet. The credit being given to the borrowers for their volunteered civic work is just at the federal minimum wage of $7.25 per hour. Borrowers who have already left college may work their way through the loan balances at the same price for their volunteer work.
The volunteer work may include work for the colleges, too, offsetting the revenue lost from reducing tuition and costs. For example, cleaning the stadium, administrative assistance with registration, maintenance, general office work. The states may also make use of the huge number of volunteer hours available to supplement its programs, such as for teachers’ assistants, tutors, general administrative.
JOIN SLAC NOW, FREE, TO HELP GET THIS BIG IMPROVEMENT. http://lowerstudentloans.net