What are some of the challenges faced by borrowers in the student loan system?
The Best Way to Get Rid of Student Debt
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Business, Life Skills, Social Studies
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University
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The video discusses the complexities and stress associated with student loans, focusing on the Public Service Loan Forgiveness program and its challenges. It highlights the high rejection rate and nuances involved in the process. Alternative forgiveness options, such as income-based repayment plans, are also explored, emphasizing the importance of understanding interest accrual and negative amortization.
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5 questions
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1.
OPEN ENDED QUESTION
3 mins • 1 pt
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2.
OPEN ENDED QUESTION
3 mins • 1 pt
Describe the Public Service Loan Forgiveness Programme and its requirements.
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3.
OPEN ENDED QUESTION
3 mins • 1 pt
What is negative amortization and how can it affect borrowers?
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4.
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3 mins • 1 pt
How can income-based repayment plans impact the total amount paid over time?
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5.
OPEN ENDED QUESTION
3 mins • 1 pt
What advice is given regarding paying off student loans to avoid unnecessary interest?
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