By Zyana Morris
The title of this article is probably a no brainer as elections carry on in full steam. To top it off, business activity has always been one of the healthy strong points of Florida as far as economic growth is concerned. And yet, if figures and warning signs are anything to go by then this is one of the crucial things over which Florida, cannot be on the fence. There is little doubt about the economical flux that the US is in and almost every economist has presented a varied view of the reasons.
The one thing over which the majority has been in agreement has been about Florida’s need to facilitate student loans a lot better.
For example, this move by Florida in 2014 was definitely a noteworthy move.
“Dunston’s lesson, though, is about scaring students into making good financial choices. Nationwide, student loans total more than $1.2 trillion. And schools now face punishment — even closure — by the federal government if the rate is too high.
You’re not going to borrow more than the amount of money you need to attend, Dunston tells the students. “You’ll be offered more. You don’t need it.”
Broward College, in Fort Lauderdale, Fla., launched this class six years ago, just one effort aimed at preventing students from taking on so much debt that default on their loans. And, starting this year, the school began trying something else: barring students from borrowing more than they need.
The school stopped accepting unsubsidized loans — those are the more expensive federal loans that require students to begin making interest payments right away. (The federal government pays that interest on subsidized loans while a student is enrolled).
Broward, along with 28 other community, four-year and online colleges around the country, is trying the subsidized-loan-only approach as part of an experiment with the federal government to cut down on student debt. Subsidized loans can wait until after a student graduates for payment.
And while the federal experiment limits access only to federal unsubsidized loans, Broward has gone even farther — it has stopped accepting private loans, too.
Dunston is in charge of monitoring student loan defaults for Broward College, with a student population of more than 60,000.
“We want to assure ourselves that they understand what the hooks are on the back end of these programs,” Dunston explains.
There are definite factors attached with student loan and it is important that Florida starts taking its student woes more seriously. Currently Florida has numerous businesses with too many jobs outsourced. A lot of said workforce can be utilized locally if the state funded over higher tuition fees.
Zyana Morris is a passionate health and lifestyle blogger who loves to write about prevailing trends. She is a featured author at various authoritative blogs in the health and fitness industry.