WAVE 3 News Editorial - July 15, 2014: College Loan Payments - wave3.com-Louisville News, Weather & Sports

WAVE 3 News Editorial - July 15, 2014: College Loan Payments

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By Ken Selvaggi - email   
WAVE 3 News Vice President and General Manager

LOUISVILLE, KY (WAVE) - As a new school year gets set to begin, a good number of the more than a million and a half students that graduated from college earlier this year are still looking for work. Roughly 150,000 more who graduated last year are still looking as well.


Student loan debt now totals more than a trillion dollars. Some people will be paying off this debt for the rest of their lives. If we as a nation believe in education, our elected officials need to be bold in addressing this clear obstacle for many in considering higher education.

More business friendly tax rates will lead to more employment for our college graduates. Legislation setting maximum financing of new private or federal loans for college at three or four percent would be welcome, as would allowing owners of current private or federal loans for college to refinance at a similar rate.

There are certainly other possibilities worth considering, but what cannot continue is ignoring this escalating problem.

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