Yes, student debt will go down, but it will take new legislation to do so. Too many young people are in debt for years after college thanks to the rising costs. This trend will not survive. In order to keep students coming to college, the prices will have to be lowered.
If you want to make more of a dent on your principal balance, you’ll need to make more than the minimum payments. But if the majority of your discretionary income is already going toward your student loan balance, that can be tough. The answer? Focus on earning more money. While saving money can help your bottom line, in the end, there is a finite amount of money you can save through slashing your budget and living minimally. On the other hand, theoretically your earning potential is limitless.
Student debt will not go down unless some major changes are made. A way to make college more affordable for everyone is the only real way to stop it. Also college debt relief could help, by making interest on stuedent loans lower. There are ways for college debt relief to end.
Universities don't care about the debt they are saddling their students with. Universities are for-profit. The professors only care about their paychecks. The university officials only want to line their own pockets. As long as the government will give students unlimited loans, they will continue to reap the benefits of government tax dollars.