college affordability

Education Desk
11:17 am
Thu April 24, 2014

Aging Population Biggest Economic and Financial Challenge Ahead

Chris Farrell appearing in Springfield May 2.
Credit APM

Marketplace Economics Editor and Business Week columnist Chris Farrell says the aging of the population is the biggest economic and personal finance challenge ahead.  Speaking with WUIS Executive Editor Bill Wheelhouse, Farrell says people can expect to work longer in the years ahead.  

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Student loans
9:41 am
Tue March 11, 2014

Lawmaker Wants European Model Of Student Loans

Rep. Jack Franks (D-Marengo)
Credit ilga.gov

  A plan that could lead to Illinois changing its student loan repayment programs is moving through the General Assembly. The new method would let students pay back loans based on their income, instead of a set schedule.

The model is a European one, often used in the U.K. and Australia, says sponsor Jack Franks (D-Marengo). Franks says he wants to prevent college grads from being shackled to large debt payments.

Currently, students have to begin making steady payment shortly after they graduate, whether or not they've found a job, and regardless of how much that job pays.

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