Why student loan rates matter
May 8, 2012 at 11:32 am in Duluth News Tribune
More than 7 million Americans, including 200,000 Minnesotans, depend on federally-subsidized Stafford student loans. With eligibility based on financial need, students can use the loans to help cover the costs of attending a four-year college or university, community college, or trade, career or technical school.
The current interest rate for the subsidized Stafford loan is 3.4 percent. This is the result of the College Cost Reduction and Access Act, which I voted for in 2007. But, without Congressional action by July 1, the interest rate will double to 6.8 percent.
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Let’s just cut the cost of my house payments too. I know I agreed to make the payments and I know that they are high but housing is important and we all need it. I don’t like the price of food too, it is way to high and we all need it so why doesn”t the president just subsidize it and force the bad companies that I make my house payments to and the mean people who sell me the expensive food and force them to sell it to me cheaper. This is what is wrong with where we are going in this country. No personal responsibility, when you sign a contract it is yours. We are teaching our youth with this that they do not have to be responsible for what they sign. Instead we need to control the costs of higher education. We also need to stop wasting so much education. When 3 out of ten college grads never use the education, we need to look and see what is wrong. We do not have enough welders, machinists and many other labor workers in this country and then people complain that imigrant workers come here to do those jobs. I don’t even want to bring up unemployment……
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Typical liberal: Throw money at the problem to alleviate the symptoms rather than buckling down and actually SOLVING THE PROBLEM. The issue isn’t high interest rates. It is high tuition and fees.
Fix. The. Problem. Stop kicking it down the road.
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