The Obama administration expects a record $51 billion profit this year from student loan borrowers. That’s more than Exxon Mobile made last year. 

RE-BLOG this image if you think higher education should not be a debt sentence…

Young Americans have invested in their education over housing and car purchases, which according to the Atlantic, could work as a “reverse-stimulus” in the long-term by adding more skilled workers to our labor force. Do you agree with this article? LIKE if you think college is a good investment, REBLOG if you’re troubled by the lack in home and auto purchasing.

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We apologize in advance to our fellow millennials looking to law school as a means to dodge underemployment. According to one study, over 50% of recent law school grads are failing to make a living. What’s your opinion? LIKE and REBLOG to share how you feel about these statistics.

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To reduce our debt solely by raising taxes would take a 64% permanent tax increase. To do so via spending cuts would take cuts in government spending by 40 percent. It seems likely that neither solution would go over well. Should we meet somewhere in the middle or is compromise a sign of weakness? Let us know what you think! And please LIKE & REBLOG this post so more people see it to comment!  

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What’s your opinion?

President Obama’s budget is expected to include cuts to Social Security benefits and an increase in taxes. This comes as an attempt to compromise with congressional Republicans. What’s your opinion? LIKE if you agree with the President’s budget proposals, REBLOG if you disagree. 

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Almost 1/2 of college grads are working jobs that don’t require a bachelor’s degree and 38% have jobs that don’t require a high school diploma. Please LIKE this post to highlight the problem, and let us know what OurTime.org should push for to solve this problem?

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What’s your opinion?

According to Pew Research, adults under 35 are reducing their debt levels faster than older generations, but fewer millennials are buying cars or taking out mortgages to purchase a home. What’s your opinion? LIKE if it’s important for millennials to be able to make larger purchases & COMMENT if they should stick to reducing their overall debt before doing so.

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President Obama signed a bill on Monday night that will temporarily allow the government to avoid defaulting on our payments until August.

Should our national debt be President Obama’s primary focus during the State of the Union address? LIKE if you agree & REBLOG if you disagree.

Millions of young Americans will be taking credit debt to the grave due to a combination of high unemployment, cultural changes in spending behavior, and rising cost of living and education. Is it possible to live as a young person today without taking on massive amounts of debt? LIKE if you agree and COMMENT if you disagree.

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You may have heard of the federal student loan income-based repayment plan, where borrowers who have high debt and low income make lower payments each month and can possibly have their debt forgiven after 10 to 25 years. However, you may not know that once the debt is forgiven, they are expected to pay federal taxes on their debt. For example, if someone has $41,000 forgiven, they could still owe $10,000 in taxes that must be paid at once. What’s your opinion? Should borrowers have to pay taxes on their forgiven debt? LIKE if they should be relieved of this tax burden and REBLOG if they should pay what they owe.

To find out more about income-based repayment and the federal tax that follows, click here!

If Congress doesn’t reach an agreement by December 31, the fiscal cliff and nearly 8% automatic spending cuts will impact our entire generation. We could not only see cuts to education funding and federal student aid, such as Pell Grants, but also, cuts to workforce training programs, AmeriCorps, and an increase in taxes to the middle class who are already struggling with student loan debt. What’s your opinion? Do you think we are going over the cliff? LIKE if you want our politicians to return from recess and strike a deal & REPIN to share your point of view. 

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It’s a mandatory requirement that students receive counseling before taking out U.S. government student loans, but over 40 percent of borrowers never receive such counseling.

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