Over one million students graduate college each year with student debt. And the debt loads at graduation keep rising (to say nothing of the debt loads of the usually less employable college drop-outs). Naturally, politicians of all stripes are proposing policy solutions.
For example, the following has been proposed by 2016 Ohio candidate for the U.S. Senate, Democrat P.G. Sittenfeld:
- Reduce interest rates to 2 percent for all recipients of subsidized federal loans who graduated with a four-year college degree since 2009.
- Reduce interest rates to 3 percent for other federal loan recipients who graduated with a four-year college degree from public institutions since 2009.
- Provide one year, up to $12,500, of federal student loan forgiveness to Pell Grant recipients upon their completion of a four-year degree.