Vitally important in the state elections is the high cost of the University. Many students struggle to pay out of pocket, and in-state tuition can cost up to as much as $19,880. With books, housing and other fees, it can total up to an estimated $33,922.
This is where federal student loans come into play. These loans make it possible for students to get an education without them having to worry about paying it off while in school.
The grace period before students begin paying their loans interest has recently been shortened. Before, students who took out federally subsidized loans were given six months before they had to start paying interest. In June, the Chicago Tribune reported that the government ended this program and students will have to pay back the interest as soon as they graduate.
Students who take out these loans don’t have enough money to pay for their education themselves. Paying interest on loans right after graduation if they needed the money in the first place makes little sense.
Whoever is elected on Nov. 6 must work to make it easier for students to repay their loans without charging them more. Sure, there does need to be a point in which students need to start paying interest on their loans, but it cannot be on the day they graduate.