Ivanka wants to do away with student loans for college kids !
On Monday, Ivanka T-rump (senior adviser to the President and often times mistaken as his wife) proposed a sure-fire way for college students to cut student debt: Make it harder to get student loans.
Her proposal is for parents of undergrads and grad students themselves be limited to the ways they can pay for school via loans, which will drive the ever-growing student debt problem down. Of course this warped thinking - from a hotel heiress who claimed being born into wealth is a disadvantage - only puts more pressure on the parents and students. A more sensible way is to cut and cap the interest rates banks and loan institutions are allowed to charge on loans - but she doesn't want to do that.
Interest rates are set to rise again this year, for the second year in a row. As it stands now, 44 million borrowers owe more than $1.5 trillion in student loan debt - an increase of 300% from 2004.