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their parents’ income. “No high-income individual or high-income household—in the top 5% of incomes—will benefit from this action,” the release reads. Additionally, the White House announced the pause on federal student loan repayments will be extended one final time through Dec. 31 and that borrowers should expect to resume payments in Jan- uary. Per the release, an application for borrowers to claim relief will be available before the pause on federal student loan repayments ends. The Department of Education esti- mated roughly 43 million borrowers will qualify for relief, including 27 mil- lion borrowers eligible to receive up to $20,000 in debt cancellation. “People that owe [$10,000] or less or [$20,000] or less tend to be the ones that struggle the most,” Mayotte said. “The reason their balance is so low to begin with is because of one of two things: either they’ve been paying forever or … they have debt and no degree.” The Department of Education is also proposing a new income-driven repayment program as part of the plan, under which monthly pay- ments for undergraduate loans will be capped at 5% of a borrower’s discre- tionary income—about half of the rate
most borrowers currently pay. The plan also seeks to improve the Public Service Loan Forgiveness pro- gram by proposing a rule that borrow- ers who have served in the military; worked at a nonprofit; or worked in federal, state, tribal or local gov- ernment receive appropriate credit toward loan forgiveness.
than a four-year college. “The average cost to attend a four- year public university is approxi- mately $10,000 based on 30 credits per year,” Head said. “At LSC, the cost is less than $3,000 for those same 30 credits. Over the course of two years, a student could save $14,000 by start- ing at LSC.” According to Head, less than 10% of the community college system’s stu- dent population borrows loans, but for those who do, the average amount borrowed is $6,000 per year. “The pro [of the student loan relief plan] is the relief to student loan bor- rowers. Theoretically, money not spent on loan repayment can be used for other normal expenditures such as cars, houses and typical expenses,” Head said. “The cons include the fact that many who received loans and repaid them believe this decision is not fair.” U.S. Rep. Dan Crenshaw, R-Houston, echoed concerns cited by Head, adding he did not believe student debt should fall on the backs of taxpayers. “Eighty-seven percent of people don’t have student loans, [so] you’ve got 87% of people who have either paid off their student loans already or never got one and they work in some blue-collar job and they don’t need a college degree, and now their tax money should go to this?,” Crenshaw said during a Partnership Lake Hous- ton luncheon Sept. 30. While Head said the student loan relief plan will provide temporary respite, he believes its longevity is short-lived. “This is a short-term solution,” Head said. “There is still a lot of work that needs to be done for long- term solutions.” University of Houston officials said their position on the matter stood in line with an Aug. 24 statement from the Association of Public and Land- grant Universities, of which the uni- versity is a member. “For public colleges and univer- sities, which educate more than three-quarters of all students in post- secondary education, addressing long-term state disinvestment is cru- cial,” the statement reads. “Decades of disinvestment has left students shouldering an increasing share of the cost of college despite vast societal benefits of a college-educated work- force and citizenry.”
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EVERYBODY TALKS ABOUT THE STUDENT LOAN CRISIS, AND IT EXISTS, BUT IT’S A SYMPTOMNOT THE PROBLEM. BETSY MAYOTTE, THE INSTITUTE OF STUDENT LOAN ADVISORS PRESIDENT
Short-term relief Across the Lone Star College System—which has campuses in Spring and Klein including LSC-University Park, and LSC-North Harris—the cost per credit hour this fall is $96, up from $88 in the 2021-22 school year. Despite this increase, however, LSCS Chancellor Stephen Head said the college system is still less expensive
Percent of ZIP code population age 18 and older with at least some college experience EDUCATIONAL ATTAINMENT Approximately 78.26% of the population age 18 and older in ZIP code 77389 has some college experience or higher—the most of any Spring and Klein-area ZIP code— while ZIP code 77066 has the least at 47.17% .
41%-50% 51%-60% 61%-70% 71%-80%
Total Spring and Klein population age 18 and older with at least some college experience: 193,385*
77389
Jerry Coker 713-224-3426 ¡Hablamos Español!
99 TOLL
2920
Limitations apply. See geico.com for more details. GEICO & affiliates. Washington, DC 20076. GEICO Gecko image © 1999-2022. © 2022 GEICO. 21_633312129
77373
Jerry Coker 713-224-3426 ¡Hablamos Españo
77388
45
77379
249
1960
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Jerry Coker 713-224-3426 ¡Hablamos Español! Limitations apply. See geico.com for more details. GEICO & affiliates. 20076. GEICO Gecko image © 1999-2022. © 2022 GEICO. 21_63331212 Limitations apply. See geico.com for more details. DC 20076. GEICO Gecko image © 1999-2022. Jerry Coker 713-224-3426 ¡Hablamos Español! apply. See geico.com for more details. GEICO & affiliates. Washington 20076. GEICO Gecko image © 1999-2022. © 2022 GEICO. 21_633312129 Jerry Coker 713-224-3426 ¡Hablamos Español! See geico.com for more details. GEICO & affiliates. GEICO Gecko image © 1999-2022. © 2022 GEICO. Jerry Coker 713-224-3426 ¡Hablamos Español! apply. See geico.com for more details. GEICO & GEICO Gecko image © 1999-2022. © 2022 GEICO. Limitations apply. See geico.com for more details. GEICO & affiliates. Washington, DC 20076. GEICO Gecko image 1999- 2022. 2022 GEICO. 21_633312129 more details. GEICO & affiliates. Washington, 1999-2022. © 2022 GEICO. 21_633312129 more details. GEICO & affiliates. Washington, 1999-2022. © 2022 GEICO. 21_633312129
77090
77070
77069
Jerry Coker 713-224-3426 ¡Hablamos Español! Coker 713-224-3426 ¡Hablamos Español!
Approximately 66.7% of the Spring and Klein area’s total population age 18 and older has some college experience or higher.
77066
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For more information, visit communityimpact.com .
SOURCE: 2020 AMERICAN COMMUNITY SURVEY FIVE-YEAR ESTIMATES/COMMUNITY IMPACT NEWSPAPER *SOME COLLEGE EXPERIENCE OR HIGHER INCLUDES INDIVIDUALS WHO HAVE SOME COLLEGE, NO DEGREE; AN ASSOCIATES DEGREE; A BACHELOR’S DEGREE; OR A GRADUATE OR PROFESSIONAL DEGREE.
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SPRING - KLEIN EDITION • SEPTEMBER 2022
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