Former Pennsylvania Higher Education Assistance Agency service representative Trevor Gast discusses the pros and cons of student loan forgiveness plans, how they work and what they really mean for borrowers. Relying on his inside knowledge and experience of loan servicing, he shares his insights on the growing number of borrowers defaulting on loans and the lack of training for jobs for which there is demand.
Key Take-Aways
- 1:00 Student Loan debt forgiveness – a solution or just a bandaid? (1 min)
- 2:45 Obama’s new plan to forgive loans after 20 years instead of 25 – who’s really affected?. (2 min)
- 6:00 Student loans are what drive up the price of tuition (2 min, 20 sec)
- 8:45 Who should step in? The Department of Education? Employers? Society? (40 sec)
- 10:00 All loans now via the government, over a $ trillion in debt for tax payers. (2 min, 50 sec)
- 12:50 The inefficiency of dumping more money, but not educating for the right jobs (1 min)
- 14:30 Why hasn’t the DoE implemented the same measures with non-profit schools as for-profits?
