College students taking out new loans for the fall term will see interest rates twice what they were in the spring — unless Congress fulfills its pledge to restore lower rates when it returns after the July 4 holiday.
Subsidized Stafford loans, which account for roughly a quarter of all direct federal borrowing, went from 3.4 percent interest to 6.8 percent interest on Monday. Congress’ Joint Economic Committee estimated the cost passed to students would be about $2,600.
“In the grand scheme of all the loans that I already have, I suppose it’s not out of control,” said Angie Platt, a 20-year-old University of Iowa student who expects to graduate with at least $60,000 in debt.
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A positive side effect is that we will see fewer graduates that just have a piece of paper....and no knowledge/understanding.
ReplyDeleteI see too many nowadays that are completely clueless and lack any common sense - yet they have multiple and/or advanced degrees.....
Good its those idiots that voted for Obami let them live with it.
ReplyDeleteThis is the fault of Congress, not Obama. I would watch who I was calling an idiot Mr. "Pot".
ReplyDeletei apid my way. worked 30 to 40 hours a week and went to college. let them do the same.
ReplyDeleteno problem with the rates doubling. i'm not willing to pay for anyones college education.
although in this state no doubt i am and don't know it.
anonymous 2:53, the buck stops at the TOP. IF you were, (by chance) correct, Obigmouth would have done an interview calling Congress out. We'll just keep waiting for that moment, NOT.
ReplyDeleteObama should have been working Congress and as Joe stated called them out if he couldn't work it out. People don't realize all the politicking is going on behind the scenes. Remember obamacare? What the public sees on the floor is for show.
ReplyDeleteIt's funny how your opinions change according to the situation. On one hand, Obama should stop being a dictator and follow the decisions of congress. Now you say the exact opposite.
ReplyDeleteWhat are you talking about 7:42? Obama should stop being a dictator and follow the decisions of Congress. But he should be out working/lobbying Congress esp with something like this. If it's not passed or put on hold then Obama can say he tried.
ReplyDeleteHe did try. Or were you too busy listening to the partisan media?
ReplyDelete