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Work Three Jobs or Cap Student Loan Payments?

If you remember from earlier this week, Mark published a blog post that talked about what Wisconsin Republican Congressman Paul Ryan thinks about the student loan program. Rather than trying to reform it to help future, current and former college students Ryan said that students should instead get three jobs after school like he did to pay for their loans. He also thinks that students should take out more loans while they are in school rather than have the government involved in the loan program with grants. While some students may not be opposed to this suggestion, recent graduates are having a hard enough time trying to find a job, let alone three. Furthermore, would these three jobs all be specific to a recent graduates degree or just throw away jobs used to pay off their loans?

On the contrary, Obama has been working very hard to gain young voters by suggesting a reform in the student loan program. According to an article in the Los Angeles Times, Obama said that he would “take executive action that would allow borrowers to cap student loan payments at 10% of their discretionary income in 2012, two years sooner than currently allowed.” Obama believes that this will save over 1 million Americans “hundreds of dollars.” The president spoke at the University of Colorado on Wednesday to try and boost his popularity and vote among young American adults.

“Some of these folks in Washington still aren’t getting the message. I need your voices heard,” said Obama in the Times article. “Young people, I need you guys involved; I need you active.”

Nicole Nicholson

Nicole is the Content Editor for Spark Hire and mainly writes for and edits the work for the Spark News blog. She graduated in 2010 with a BA in Journalism from DePaul University in Chicago, Illinois. She has a passion for writing, editing, and pretty much anything to do with content. In her free time she frequents the Chicago music scene and writes reviews on shows for her own personal blog. Connect with Nicole and Spark Hire on Facebook and Twitter