The total amount of student loan debt in the United States is now over $1.3 trillion.
Which means we will hear much more about student loan debt as we approach the 2016 Presidential Election.
As of now, there are about 42 million Americans that have student loan debt.
So it’s important for each nominee to have a popular stance on student loan debt.
Hillary Clinton has a stance that won’t sit well with some student loan debtors.
Clinton’s most recent proposal is in favor of helping out entrepreneurs and startup companies.
These entrepreneurs will be able to defer making student loan payments for up to three years. The proposal also allows the startup’s first 10 to 20 employees to have the same deferment rules as well.
Just in case you didn’t know:
Any student loan borrower that’s current on payments can request a deferment if they can’t afford to make payments on their loans. But a regular deferment only last three months.
Clinton also wants to provide up to $17,500 of loan forgiveness to “young innovators” five years after they launch a new business.
But this doesn’t include all businesses. The business must be located in a poor community or it must provide a good social impact.
Some people want to know why these proposals are only aimed at entrepreneurs and startup companies.
About 1 out of every 8 Americans has student loan debt.
And that number includes many Americans that aren’t entrepreneurs.
The student loan debt crisis in the 2016 Presidential Election is getting interesting to say the least.
What’s your opinion of Clinton’s new proposal?
Do you find a problem with her providing significant help for a narrow group of Americans?
Or do you think it will help with the development of new startup companies?
Let’s start a discussion down in the comments!