Congressman Tom Petri (R – WI) has a plan to reduce student loan defaults and it does not involve discharging the loans in bankruptcy or reducing the amount of money students are allowed to borrow…
Right now, Americans own more than $1 trillion in student loans – more than they do in credit card debt. Congressman Petri thinks that fixing the country’s student loan crisis will come from improving the payments process. His plan? Mandatory paycheck deductions to cover student loan payments.
Think it could work? Let us know in the comments below.
[Link: Congressman: My Plan Would Reduce Student Loan Defaults - Bloomberg Law]
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