Student Loan Debt


Our economy benefits from an educated work-force, so why can’t our economy invest in education?

Student loan debt is currently at almost $1.8 trillion (see below), higher than current auto loan debt (currently at $1.13 trillion) and credit card debt ($1.04 trillion).  I know people who have student loan payments that exceed $1100 per month – imagine if that money was being spent into our economy instead of banks?

Nothing in life is really free. Most of us know that if we pay for something with our own money or labor, we appreciate it so much more. And it’s even more rewarding to share what we have learned, giving back to our community to help others. That is the premise of the Community Service Payback Program – Paying it forward to pay it back.

Vocational, community colleges, and four-year colleges and universities would be paid for through reduced tuition expenses from various private/public partnerships, federal and state investment programs, and grant programs, and   education  would be free through the Community Service Payback Program…

This would be nearly revenue neutral, especially when you consider education as an investment, not just in the future of our people, but in our nation.

Key financial points: the better your job,  the higher your pay and the less owed in student loan debt, means employees now would pay more back into the economy through productivity, taxes, spending,  creating more jobs, and through the Community Service Payback Program, which would provide a useful and educated volunteer workforce to address and fulfill certain needs in our communities.

This is the fundamental premise behind Pay it forward to pay it back.  Part of a larger concept, this is a significant way to eliminate or significantly reduce student debt. After your education is complete, you pay back your student debt through the Community Service Pay-Back Program, which is similar to the Peace Corp or AmeriCorps, providing much needed service and expertise in your community, or other areas where there is need.

Credit Cards: $882,600,000,000.00
Auto Loans: $750,000,000,000.00