Solving Student Loan Debt

hi everybody, I’m Amanda the G and today I am wearing superheroes on my shirt because I thought it was very appropriate when I’m going over my plan to save the world now by save the world, what I actually mean is my own personal plan for how to deal with the student loan debt crisis in America I know I don’t get political on this channel, like ever but it is election season for a while and there’s still a crap ton of candidates out there and let me tell you, they, some of them have plans to help with it and some of em aren’t gonna help very much so I figured I’m gonna give you my, what I think is a really great plan and if you think it’s a really great plan too one let me know in the comments but two share this video with any representative for you, like your, any of your government representatives or any of the candidates that you either want to vote for or have voted for or will vote for or any of the candidates in general because the best thing that I think that could come out of this video is a good plan in order to help with the giant crisis that we have in the United States with student loan debt speaking from experience from somebody who’s 6 figures in debt and will never get out of it also with this plan, at least I personally think it stands a pretty good chance of passing, so although I very much, very much love LOVE Bernie Sanders’s plan to just pfftt good by student loan debt, like I would fall to the ground crying, I would be inconsolable at that point out of sheer relief I’m not really sure that all the representatives in our government are gonna be all on board with that and I think it might be a bit difficult to actually push through the other plan that’s a big one is Senator Warren’s plan which is to remove $50,000 from everybody’s student loan debt which would leave a lot of people without any debt at all a lot of which I know but unfortunately for me I would be in the set of people who just got reset to the amount of money they took out which is not going to really be the- that doesn’t help me I’ve been paying for a decade how would that just- more than a decade how would that just reset me back to where I started? because there’s a problem, ok? and the problem is interest rates, and it’s a huge ordeal and also I don’t know if that would necessarily pass or not because it’s basically considered like a hand out and I know that a lot of people a lot of Boomers are really mad at my generation although I don’t think they realize how old Millenials are and they’re probably really much more mad at Generation Z but they like yell at Millenials all the time, like we’re trying to get a hand out no we’re trying to save our damn lives ok, Boomers were able to go to college and also work and like pretty much all of college and then it got astronomical it was more than $50,000 a year to go to college when I was in school that’s insane so now, getting into my plan and how my plan would be better my plan is gonna be addressing the interest rate problem now we also have to address at the same time you have to address the amount of money that college actually costs and you need to start capping it and capping what universities are allowed to charge and you also have to get rid of the whole like we’re gonna give you a discount in state schools for in state versus out of state, because I got the exact same education as someone else who was there but I didn’t live in the state for long enough even though I lived in the state the entire time that I was in school I didn’t live in the state for long enough to qualify for that so I ended up paying like $30,000 more for my grad school than my classmates, which is ridiculous so we need to get rid of that but on top of that you have to address not only going forward, but the whole mass that we have of student loan debt right now because it’s stopping people from living their lives so my plan is to have a flat interest rate, not compound interest rate and the flat either 2% or 3% I know that 3% is probably more likely to pass so I’m totally cool with that I have interest rates that are like 9 and a half percent it’s ridiculous I know people with 13 and a half percent you need to cap it at 2 to 3% there’s no way that people can pay back those loans if you keep having these 8 and a half percent interest rates it’s ridiculous so 2 to 3% flat it should never capitalize, it should never compound there should be no interest at all while you’re still in school then on top of that, what they need to do is take all of the money that people have paid in all of their loans and a one time to fix everything, take all of the interest that has been accrued on those loans and remove it from the balance of the loan so therefore every penny that you paid into it was a penny towards principal then put that 2 to 3% starting from that day that they did that, so a lot of people will be out of their loans at that point it may not be as much as that $50,000, I’m not entirely sure it kinda depends on how much money you took out and how high your interest rates were and that kind of thing, I’d have to like individually do numbers which I’m totally cool with so if y’all want me to individually do numbers leave me numbers below, I will do the math for that I love doing math but it would take someone who’s in a position like mine and make it a lot better because myself, all of my friends, we’ve been paying for more than 10 years on our loans and a lot of us aren’t even down to the amount that we took out which is ridiculous or you’re like barely under the amount you took out it’s- it doesn’t make any sense, I’m not saying I don’t wanna pay my loans back I’m saying I wanna be able to pay my loans back and the way that it is now, I can’t cause I’m on the income based repayment program which is also a program we can’t get rid of but another program that needs to be addressed again, in my plan included in my plan is that we can keep the income based repayment program the way that it is it’s a percent of your AGI and you take that for 25 years and then they forgive the rest of it but the forgiving the rest of it is the part that we have to address right now because right now, it’s currently forgiven as a gift which is gonna be taxed at like 40% which is ridiculous, so you need to take that and redo that, that, put an amendment in there to that so that that last thing if you still wanna tax it, that’s fine but it needs to be taxed no more NO MORE than like 10%, ideally 5% because you’re not really getting that money, it’s not like the government is giving me thousands of dollars it’s just telling me I don’t have to keep paying even though I would’ve at that point, already overpaid all of my loans so it’s, when you’re paying everything back it’s kinda like a dick move to be like you’ve overpaid everything but now we’re gonna like royally fuck you again so basically, to condense it down my plan is to remove all of the interest that has been paid on any student loan so far adjust it so every penny has gone towards the pricipal take that new principal amount for everyone, put a flat 2 to 3% interest rate that cannot be raised ok, flat 2 to 3%, doesn’t change with time on that loan and let people off the rest at that at the same time, taking the IBR and similar programs that royally screw you later and changing that, that percentage that’s taxed on the, on the forgiveness at the end from the astronomically high, down to 5% ideally potentially 10% if people are gonna be dicks about pushing the program through then on top of that, no out of state fees for going to a state school and limiting the amout of, of money that colleges can charge, and also no interest capitalizes while you’re still in school I think it’s pretty damn brilliant, but again the best thing that I feel like can come out of this video the absolute best thing that could ever happen is not even for this plan to necessarily be put into place, but if it is it’s gonna help a lot of people, but any plan that can help people being put into place, because we’re all royally screwed, so again if you like this plan, if you agree with this plan or if you agree with parts of this plan or any of that please, please, please spread this video around let people see it, let the legislatures see it, because no matter how much I tweet at people, they ain’t gonna see it, they ain’t gonna understand my plan, but it could really, really help people and it’d be really nice if something could actually help people for once stay fresh cheese bags and I won’t be political next week ok, I never really make political videos but also, vote please, thank you

2 comments on “Solving Student Loan Debt”

  1. LIL SHEIT says:

    When it says 40 seconds ago

  2. Aaron Booth says:

    @Amanda the G for President / Captain America

Leave a Reply

Your email address will not be published. Required fields are marked *