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August 28, 2005

Student loan debt can be written off

You owe about $30,000 in student debt and working hard paying it off. Still a long way to go. Then, one bright morning you discover your student loans are gone. All the student debt you accumulated is wiped out. Sounds good, doesn't it? That is exactly what Scottish National Party is proposing as it going to assemble for the party conference somewhere in Scotland.

The party thinks that the student debt is an additional burden on economy since it significantly diminishes spending ability of the yesterday's students as they're entering the work force.
If this proposition is supported and the SNP wins elections, then this can become a reality. This student loan dismissal policy is a continuation of the current policy to replace student loans with grants.

That would be quite a radical student loan reform and already, SNP rivals are claiming that this is a trick to get young voters.

From Sunday Herald materials.

Posted in Student Loans at August 28, 2005 08:33 PM

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