Federal Student Loans Help Now, Hinder Later


Federal student loans are a controversial subject these days. Once viewed as the saving grace for individuals who could not afford the astronomical cost of college, we have now learned that once the required semesters are complete, students find themselves swimming in debt due to federal student loans.

Presidential candidate, real estate mogul, and reality TV star Donald Trump has taken a firm stance on federal student loans. Known for his ability to make money hand over fist, Trump says the federal government should not be making money off student loans. In an interview with the Hill, he spoke about the financial stress many college students are feeling.

“One of the biggest questions I get is from people in college [about student loans]. They’re in college — they’re doing well but they’ve got student loans up to the neck. They’re swimming in these loans.

That’s probably one of the only things the government shouldn’t make money off — I think it’s terrible that one of the only profit centers we have is student loans.

I’ll see so many young people and they work really hard for four years. They borrowed money. Their parents don’t have much. They work all together and they mortgage their future.

They get good marks — I’m not even talking about the ones that are at the bottom, I’m talking about the ones at the top. They can’t get jobs and they don’t know what to do.”

If the top ranking students are having such a difficult time after graduation, we can only imagine how the lower performing students manage to find work and pay off their student loans.

Dave Ramsey, known for teaching Christian principles on how to get out of debt, seems to agree with Trump regarding the federal student loan fiasco.

“When you have a student loan payment, whatever you are paying is money that can’t work for you. It can hinder your ability to buy a house or start a small business. You may even feel queasy about getting married or having kids. It stops you or slows you, and there is too much opportunity in life to be held back like that.

If you have trouble finding a job after graduating… Sallie Mae will still want to be paid. She’s harder to get rid of than Glenn Close in Fatal Attraction.”

Sadly, many students have no opportunity at all to further their education without the help of federal student loans.

What do you think about the state of federal student loans these days?

[Image via College Confidential]

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