If we want higher education to cost less, we should make it cheaper when people enroll.But that’s not how we do things in the United States, where the first rule of personal finance is that it should never be simple.Instead, we befuddle people with a menu of a half-dozen retirement accounts. We fetishize the tax code and its deductions and credits and refunds. We name gold, silver and bronze health insurance plans after precious metals but award no medals for clearing the enrollment hurdles.And so it goes with President Biden’s executive action around student loan debt cancellation. The potential $20,000 in relief per person gets the headlines. But the sleeper element here is a new income-driven debt repayment plan that would help many people pay much less of their student loan debt over time, if they’re not big earners.Instead of helping people up front, when they’re hit with five- and six- …
Browse
Business Central
Accelerate growth with 1BusinessWorld's Global Business Profile
Sign up for free or use coupon code 1BW50 for 50% discount on your subscription
Sign up nowLatest Business News
- Precision Health: The Strategic Frontier for Transforming Healthcare Investments (11/4/2024) - At the Precision Health Summit, industry leaders reveal how AI-driven… Read more...
- Harnessing Storytelling for Sustainable Change (10/31/2024) - How Authentic Narratives Drive Engagement, Inspire Action, and Advance Sustainability… Read more...
- Greening the Stage: Transforming Music Festivals into Hubs for Sustainability (10/29/2024) - How Eco-Conscious Practices and Strategic Collaboration are Shaping the Future… Read more...
- Precision Medicine’s Promise: Transforming Healthcare into a Personalized Reality (10/29/2024) - How Strategic Partnerships, Innovative Models, and Equitable Access Can Make… Read more...
- Navigating NYC’s Real Estate Market: Strategic Leadership Amid Unprecedented Challenges (10/24/2024) - How Understanding Market Cycles and Adapting Strategies Can Transform Volatility… Read more...
- Water Scarcity: Real Estate’s Overlooked Risk (10/24/2024) - Why Investors Must Address Water Management Now In an era… Read more...