Jul 21, 2016 09:03 PM EDT
Higher Education Loans and The Bittersweet Reaity: PAYE Program To Set Things Straight? [VIDEO]
Viewed from a rather contemporary lens, the perennial issues on Higher Education Student Loans take attention in a rather intertwining fashion! New sets of realities are assessed upon and the PAYE or Pay As Your Earn program gets to be reviewed by both academic and economic experts as a most efficient solution in setting things straight in the whole student loans fiasco!
The reality of Higher Education Student Loans has been described by many as bittersweet.
While major opportunities in Obama's administration were laid on the table for the students to grab, drawbacks came in plaguing the economy as well, the Huffington Post reported.
The academic consciousness in America can be materialized as a nation that clings very strongly on the significance of a finished degree.
For a time, the student loans appeared as a very efficient solution, Brookings reported.
But with the recently ballooning student debts, there is not a need of any confirmation before a government could notice the recession.
For a record, the student debt rate in America has reached an alarming peak of $1.3 trillion, the Huffington Post again reported.
Nevertheless, facing all these, it is till worthy to note that there were high marks in the chart too only that the mean figures did not last long until experiencing another modest drop.
When all hope seemed lost, academic and economic analysts once again scrutinized the benefits imbedded in the PAYE or Pay As You Earn program.
The said program is a U.S. federal program made into law in December 21, 2012 that lets students eyeing for Higher Education apply for loan.
The latter realities uncovered from such scrutiny acquitted PAYE from the hot seat and instead put into light the dangers of not filling out the FAFSA, CNBC reported.
(More pointers and not-to-do tips before filing out for a student loan can be read here. )
In the highlight, the PAYE program has been proven as an utmost aid for students in America and that it does not entirely hold the blame for the increased student debts in America today, CNBC again reported.
Higher Education student loans are just there to be dealt with and there is no compromise to finishing a degree.
As the PAYE program drew the line between the bitter and the sweet realities, academic solutions start swering into the direction of a clearer, more definitive loan-limiting policy all papered in a solid Higher Education reform, FT reported.
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