<p>^in this politically toxic environment, where neither party seems to believe in compromise, restoring subsidies seems like wishful thinking. It seems we tend to focus on the crisis de jour without evidencing any ability to think 20 years down the road (where a highly educated workforce would prove its worth).</p>
<p>As for the preference not to stretch out payments, that is not an unreasonable position; but someone could always accelerate payments - just the same as a borrower can pay off a mortgage early.</p>
<p>College grads have an unemployment rate almost 1/2 of the unemployment rate of the entire U.S. workforce. Some college grads may begin their work in a low paying relatively unskilled job, but as they pick up work and life skills, pay increases. Slamming these borrowers with payments that substantially impair their ability to consume - and we are a consumer driven economy - harms all of us, not just the struggling borrower. </p>
<p>What if you were forced to pay your mortgage in 15 years? You would have far less discretionary spending. Now, some people get 15 year mortgages; but most don’t (one size does not fit all). If all mortgages were 15 years, however, the hit to the economy would be considerable - due to decreased consumer spending.</p>
<p>Savings and preparing for future expenses (house, kids, kids education) is laudable. But the expected length of time a person is a part of the workforce means that major costs can be spread out over the length of the time a person is working.</p>