Hello Bruce Mesnekoff, Welcome to our Show Talkies, As Our Student Loan Consolidation expert we have several questions for you. Let’s start our question answer round. Are you ready????
Bruce Mesnekoff : Yes John Let’s discuss today what do you have from you talkies and listeners too.
What do you think Bruce Mesnekoff , How many people are in debt from student loans?
About 40 million Americans hold student loans and about 70% of bachelor's degree recipients graduate with debt. The class of 2015 graduated with $35,051 in student debt on average, according to Advisors, a financial aid website, the most in history.
According to Bruce Mesnekoff, How big is student loan debt?
Of this $1.2 trillion in student debt, about $1 trillion is in federal student loans. This figure does not tell the full story, however, as the $1.2 trillion does not include funds students must divert away from retirement savings, parent borrowing, or credit card debt.
What do you think , What is the average amount of student loan debt?
Average debt levels for all graduating seniors with student loans rose to $29,400 in 2012 — a 25% increase from $23,450 in 2008. In 2012: At public colleges, average debt was $25,550 — 25% higher than in 2008, when the average was $20,450.
According to Bruce Mesnekoff, What is the total amount of student loan debt?
This increases the total federal student loan debt outstanding by about 6% to 7%, or about $70 billion. If one were to include capitalized interest, total federal and private student loan debt probably hit the $3trillion milestone in late 2014.
Do you think everyone have to deal seriously with debt crises?
Yes, this is what I think John, every person and government officials have to deal honestly with deal seriously with debt crises. That’s why Sen. Bernie Sanders stunned Americans when he proposed to eliminate college tuition at public institutions, such as Germany, Sweden and many other countries have done. Yet, even Hillary Clinton now accepts that drastic measures are needed to rein in student debt. Clinton recently announced a proposal to eliminate in-state tuition for public colleges and universities for families with annual household incomes up to $125,000, although unlike Mr. Sanders, she has not been clear on how to realistically pay for it. Meanwhile, Presidential candidate Donald Trump’s fix for the problem seems to be fraud, if Trump “University” is any indicator of his solutions.
What do you think Bruce Mesnekoff , Why the Next President Should Forgive All Student Loans?
Bruce Mesnekoff: By forgiving student loan debt—which is largely held by the government—a tremendous economic stimulus would be generated, whose beneficiaries are people, not banks.
Thanks for today’s Call Bruce Mesnekoff from Student Loan Consolidation expert and CEO of Student Loan Help center.
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