Congress's tax bomb: Income-based repayment and disarming a problem facing student loan borrowers

The landscape of higher education in the United States has shifted greatly in the past few years. More Americans are enrolling in college: the short span between 2001 and 2011 saw an increase of 37% in undergraduate enrollment. Correlatively, more Americans are borrowing from the federal government...

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Bibliographic Details
Published in:	Cornell law review Vol. 100; no. 3; pp. 703 - 731
Main Author:	LaPlante, Jonathan A
Format:	Journal Article
Language:	English
Published:	Ithica, NY Cornell University, Cornell Law School 01-01-2015 Cornell University, Law School
Subjects:	Consumer credit Education, Higher Federal government Income taxes Liability Student loans UNITED STATES United States > US
Online Access:	Get full text
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Summary:	The landscape of higher education in the United States has shifted greatly in the past few years. More Americans are enrolling in college: the short span between 2001 and 2011 saw an increase of 37% in undergraduate enrollment. Correlatively, more Americans are borrowing from the federal government to finance an education. Partly due to higher undergraduate enrollment, a lower percentage of college graduates report that they are getting jobs that actually require a college degree. This in turn means lower earnings for college graduates. The confluence of these trends has led to more college graduates, with more debt, who default more on their student loans due to a lack of lucrative jobs, all of which translates to millions of struggling borrowers who would be greatly aided by a solution from the federal government.
Bibliography:	Cornell Law Review, Vol. 100, No. 3, Apr 2015, 703-731 Informit, Melbourne (Vic)
ISSN:	0010-8847