School Loans Forgiven New Plan Proposed
21 Apr, 2016 – Barry Michaels is a Democrat in Nevada currently running for a seat in the United States House of Representatives.
Michaels believes his student loan forgiveness plan makes good economical sense for both the student and the government. It assures an economically better and more educated society, which in turn makes our Country an even better and stronger one.
According to Michaels: to qualify a student must have completed a program leading to a particular degree, graduate and be employed in a related field for five years. During the initial five year period payments on the loans would be suspended. Certain degrees and professions would carry additional incentives.
According to the U.S. Bureau of Labor Statistics the average high school graduate earned:
$34,736 per year in 2014 while the average person with a Master’s degree earned $68,952. If you multiply these number by 35 years you find the high school graduate earned $1,215,760 and that with a master’s earned $2,413,320.
Using a 15% tax for the high school graduate and 25% tax for those with a master’s degree we find those with a master’s degree pay $420,999 more in taxes than those with a high school diploma.
The average cost of obtaining a master’s degree runs about $80,000, after paying the loan o? the government will receive $340,999 more in taxes than from the high school graduate. The government ultimately receives an excellent return on its investment.
To schedule an interview or for more information call or write:
Barry Michaels, DC, MPA
9708 Gilespie St, Suite 104
Las Vegas, Nevada 89183
Cell Phone: (702) 415-0905
Distributed by Press Release Jet
Company Name: Michaels for Congress
Contact Person: Barry Michaels
Phone: (702) 415-0905
Country: United States
See The article at CBS 2 News: www.ktvn.com/story/31779416/school-loans-forgiven-new-plan-proposed