The only 10 ways the student loan crisis will get better, according to a finance professor
forecasts default rates could be as high as four out of every ten students by 2024. Should the economy slip into recession, which could happen by next year, defaults will spike, further threatening the prospects of aspiring graduates.
These lenders need to show greater forbearance, including developing more flexible payment options and at reduced interest cost.Capping the amount of loan repayment to discretionary income at 10 percent should be a viable option for more borrowers. and by being willing to expand existing employee benefits to encompass loan repayments. Employees that commit to long-term employment could see debt reduced. Such good-faith benefits will help attract and retain talentabolish legal roadblocks so that student loan debt, similar to other consumer debt, can be discharged in bankruptcy. Doing so will return more control to student borrowers as they address how best to honor their student-loan obligations.
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