President Obama wants to help Americans who are struggling to pay off their student loans.
The White House is focusing on the steep cost of college and student loans with an event today featuring Education Secretary Arne Duncan and Jill Biden, wife of Vice President Joe Biden. Treasury and Education departments to work with tax preparers to increase consumer awareness about flexible repayment options and tuition tax credits.
In his weekly radio and Internet address, Obama noted that he wants to do away with tax loopholes for millionaires in order to help heavily-indebted students.
Obama said the choice facing lawmakers is whether to "protect young people from crushing debt or protect tax breaks for millionaires." According to the Institute for College Access and Success, the average debt for a class of 2012 graduate was $29,400.
Trumpeting the value of a college degree, Obama noted that the unemployment rate for college graduates is about half of what it is for high school graduates.
He remarked, "At a time when college has never been more important, it's also never been more expensive." Senate Minority leader Mitch Mc Connell, a Kentucky Republican, criticized the student-loan bill for not addressing skyrocketing college-tuition costs. " However, innovative low-tuition alternatives, rarely mentioned in Washington, are taking root.
Mc Connell noted, "This bill doesn't make college more affordable, reduce the amount of money students will have to borrow, or do anything about the lack of jobs [that] grads face. For instance, the online Sherman Institute describes itself as "a private association of instructors who seek to provide a broad, liberal arts curriculum based on the classical standard, and a theology program centered on scripture." The Institute's named after Roger Sherman, the only American founder who signed all the nation's major founding documents.
The Institute seeks to train Constitutional leaders and effective citizens.
Furthermore, innovative New York attorney Carl Person has proposed creating non-accredited equivalency schools that cost only a few bucks per credit hour.
Students would be taught practical skills now in demand in their local economy.
Person's goal is to produce employable graduates who receive degrees without carrying debt—because loans weren't needed in the first place.
It may be laudable for Washington politicians to try and fix the student-debt problem.
But if we boldly look beyond the college model now in vogue and try other options, the entire debt problem could be forever canceled. Donate USD: donate-dollars Donate BTC: donate-bitcoin Download your free Next News "Heroes & Villains" Poster here: the-2013-heroes-villains-posters LIVE: Facebook: Next News Net Twitter: Next News Net Sub: the_new_media Meet the Next News Team: 2Qn NKw Q2Wk Y Hashtag: #N3 About: Next News Network's World News program airs daily at 6pm and 11pm Eastern on Comcast, Direc TV and Over-the-Air and Online at on- World News is available to 6 million viewers from South Beach to Sebastian, Florida and to 2 million viewers in Boston, Massachusetts via .