Interest Rates, Pell Grants, Sixty Seventy Eighty Thousand Dollars discussed on Millennial Money - Trumps Student Loan Proposal What It Means To You

Automatic TRANSCRIPT

So the next thing is is unlawful eliminating these subsidize subsidized man that's a tough word for me subsidized stafford loans so trump wants to stop these subsidized loans which again remember these were the federal loans that were started in the beeri beginning for lowincome students and they have low interest rates instead all borrowers would have these same alone options and the same alone interest rates again could be bad for a lot of people because i i know a lot of low income people they need you know these low interest rates but we can make the argument that look everybody needs these low interest rates so is there a way that we could make this work for everybody that we could keep these interest rates low enough that the the payback were paying back the student loan it's not like we're paying three or four times what we oda in the beginning you know a lot of times it's not it's not the the star that that matters you know it is but hear me out on this you know it's not the twenty or thirty or forty thousand dollars that we owe in the beginning but it's by the time we've made our payments it so you know sixty seventy eighty thousand dollars were paid that is the power of interest and that's what sucks bright so he's also terthe talking about expanding pell grants so currently pell grant recipients can't use these grants were summer classes or anything remedial rate but his plane would expose expand the pell grants so students can use them for these types of of courses.

Coming up next