Encouraging College Grads to Pursue an Entrepreneurial Path
The dreaded student loan. The moment you graduate from college the clock starts ticking toward that first payment. Land a job, pull in a steady paycheck and the pressure subsides. But how many recent graduates have not followed their entrepreneurial passion because their student loan debt loomed large?
What if those loans were reduced considerably for aspiring entrepreneurs? I'm guessing the number would drop.
Inc. Magazine’s article “Student Loan Breaks for Entrepreneurs” makes the suggestion -- encouraging breaks on student loan debt as a means of encouragement for entrepreneurialism in students.
In 2007, the government began offering breaks to students with federal-loan debts who opt for public-interest work -- allowing them to walk away from their debts after 10 years, compared with 25 years for recipients of some other federal loans. Entrepreneurs should get the same kind of consideration.
Bottom Line: Let grads who start businesses postpone loan payments for a few years while they get their ventures off the ground.