America’s Millennials Are Waking Up to a Grim Financial Future

Re:America’s Millennials Are Waking Up to a Grim Financial F... by JumpCrisscross on Friday June 22, 2018 @05:52PM (#17377729)

> What's the best solution here?

Let lenders vary interest rates by institution and major. Also, give lenders a choice: (a) loans dischargeable in court like any debt or (b) non-dischargeable loans where total payments in a calendar year are capped as a fraction of AGI.

This combination incentivises lenders to communicate employment and wage information from the labor market to students deciding where to go for school and what to study.

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Re:America’s Millennials Are Waking Up to a Grim Financial F... by dcosson on Friday June 22, 2018 @06:33PM (#17378053)

Pretty sure b. already exists, there are consolidation programs where you can get your monthly payment capped at a percentage of your salary. The downside is just like with paying the minimum due on a credit card, the interest can really screw you. In some cases the amount you can afford to pay may even be less than the interest.

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Re:America’s Millennials Are Waking Up to a Grim Financial F... by derekp7 on Friday June 22, 2018 @06:01PM (#17377825)

And it will at the same time vary the price of education based on financial post-graduation prospects. Have a shortage of teachers or social workers due to low salary? Well, the relevant degrees would only cost 10% of a STEM degree. I see this as a major win.

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