2.

A Purdue University student loan system might be offered state wide

1. That is how much Americans owe in student loan debt.

A bill introduced by two U.S. senators could provide an alternative to student loans. It is based after a program at Purdue
University.
Back-a-Boiler is the name of the program which allows people to purchase a college student's education.
Last autumn, the program established. Now lawmakers are attempting to help it become a state-wide program.
Two part time occupations did not cover all her expenses while going to school.
"I 've about $36,000 in debt from going to a private college my first year of school, said Falzon. I've decided to do an
income-based payment strategy. Which is fine but then the interest on it is likely to become nearly double if I do end up
having to stay with this payment strategy for your span."
Florida Senator Marco Rubio and Indiana Senator Todd Young introduced a strategy to assist students like Falzon locate
alternate ways to pay for school.
It involves private investors participating within an income-sharing agreement, funding the education of a pupil.
Unlike conventional loans, there would be no accumulated interest. The payment program would be based on a a
percentage in their anticipated income and a student's major.
The utmost payment is also limited.
Under this legislation, and also this plan that's being piloted at Purdue, you'd not have to pay. Or should you were earning
a paycheck that was small, obviously, your payment could be a lot smaller, said Jay Kenworthy. The Indiana
communicating manager for Senator Todd Young.
Jill Bertrand, manager of financial aid and scholarships at IU South Bend, helps students figure out means to purchase
school.
She says some students could be helped by this bill, but could also pose a problem later on.
"Anytime you're asking somebody to create a decision right now, that's planning to make them obliged to do something
financially for the next 10 or 15 years, it could be very hazardous, said Bertrand.
Or have known about if it'd been accessible, said Falzon.
Kenworthy says in the event the bill passes, it may take time before this will be widely accessible.