My girlfriend is on an IBR (income based repayment) plan for college loans which George Bush signed into law. Due to the economic downturn and astronomical interest rates, we can't make ends meet without it. Does anyone know if Romney intends to end this program? This is my only fear regarding a Romney victory. Any insight or opinion on this topic would be welcome. Thanks.
Are you a troll? Interest rates are the lowest they have been in a generation. By the way, aren't you more concerned that the Obama economy is so far in the crapper that she can't find a job with her degree?
What is a troll? My Q is a legitimate concern. My GF took deferments due to the economy. In the meantime her loan went from twenty something thousand to fifty something thousand. Hence my reference to interest rates. And yes, we're both concerned about the economy. My Q had to do with what Romney/Ryan might or might not do. I intend to vote for Romney. My GF originally supported Romney, but because of this IBR fear and Ryans position that rape victims should not have access to abortions, she is voting for Obama. I'm trying to get her to vote for Romney by minimizing her fears. I can't change Ryans abortion stance. But I might find evidence that a Romney/Ryan ticket won't threaten her IBR. This might be enough to get her to vote for Romney.
Me and my wife have researched that also because she is currently using the IBR program and we didn't find anything specifically stating he will. Its a huge deal so she voted Obama just to make sure nothing happens. I gave her a political test and it turns out she's a liberal....GOD! Anyways, Romney hasn't stated much other than he wants to get more private lenders involved with loans but if anyone is going to cut the program it would be Romney. It might be a good idea to vote for Obama if your worried about it.
Without the IBR program we would be paying close to 1600 p/mo just in student loans. The cost of tuition and associated costs has been skyrocketing and unless your wealthy your going to rack up huge debts if you do post graduate studies. Get two people in the household doing that and there goes all your money. IBR helps tremendously.