I agreeto Idea Student loan forgiveness for working in an LMI or HUBZone
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Student loan forgiveness for working in an LMI or HUBZone

Problem: It is difficult for small businesses in LMI (Low and Moderate Income) and HubZone areas to hire recent college graduates. It is difficult for the recent graduates to afford to work for these businesses, particularly given high student loan payments.

Solution: Provide loan forgiveness for recent graduates who go to work for a small business in an LMI or HubZone area.

Benefit: Reduces loan burden for recent graduates. Attracts high quality, growth-oriented job applicants to LMI and HubZone areas. Provides entrepreneurs in those areas with the talent needed to grow and scale. Brings additional revenue to LMI and HubZone areas.

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Submitted by SUA Moderator 2 years ago

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Comments (2)

  1. first_lady_luvs

    In addition to student loan forgiveness for recent grads, provide student loan reductions for entrepreneurs who also have loans outstanding.

    2 years ago
    0
  2. Elizabeth Kudner Kraus

    The two main issues I have with this are:

    1) What do people have to do to be considered an entrepreneur? Anyone can register a business or put up a website. I think there needs to be some sort of approval process to make sure this is not abused.

    2) What do students have to do to be considered an "employee"? Can they work for family members? Do they have to work a certain number of hours? This would need to be flushed out. Additionally, I think this idea could be beneficial for all entrepreneurs, not just those in LMI or HubZone areas, but I think the entrepreneurs should have to go through some sort of approval process to be eligible.

    2 years ago
    0