As much as I would love nothing more for college to be inexpensive and provide a wealthy education, I feel that Obama's Income Based Repayment plan isn't necessarily right. Being a college student myself with hopes of going to a well-rounded university, I am aware of the insane price it will cost me and most likely put me in debt by the thousands. However, there are already options for relief such as scholarships and grants that can be obtained as long as the student applies themselves and puts in the work. If you want to go to a prestigious school, keep in mind that prestigious schools are meant for those willing to work hard for it.
Just because we all aren't blessed with well-endowed parents willing to pay off our education in full does not mean that we should get a break. Spoiler alert: Life isn't fair. Some of us need to work harder, study a little more and apply for student loans. As taxpayers, the money that will be salvaged within this plan is OUR money. I, personally, do not feel this is fair to the people that worked hard, managed to suffice throughout college and pay off their student loans, just to end up paying for someone who may or may not abide by their legally binding contract with the government. There are other solutions other than the Income Based Repayment plan--for example, why don't we raise minimum wage to alleviate the income of most college students who work? What about raising the income tax on the rich? Private lending? I really hope that we consider other options before endangering the pockets of the public.
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