There has been a lot of talk lately about relieving student loan debt to help new graduates. This is something that can also impact young business owners as they will have more money in their pocket to invest into their companies. The new plan has two basic parts to it:
1. Reduce their loan payment cap of discretionary income from 15% to 10%.
2. Forgive loan debt after 20 years instead of the 25 years as it is now
You can read the White Houses’s statement here and see a follow-up on Inc. Just last week we talked about how Gen Y Capital Partners just launched a fund for young entrepreneurs and one of their focus points is paying off loan debt for people that make it into the program.
The question is will this help young entrepreneurs or are there bigger issues to tackle?
Leave your thoughts on the issue in the comments:
Category: Startup Advice