Friday, February 24, 2012

Is Congress Going to Double the Interest on Your Student Loan?

Is Congress Going to Double the Interest on Your Student Loan?: "Millions of young people may have a much harder time paying for an education.

Unless Congress acts soon, millions of college students could see the interest rate on their federal student loans double this summer—adding $5,000 to the cost of an education for students who pay off their loans in 10 years, and around $11,000 over 20 years.

Yet Republicans are claiming that keeping those rates low costs too much and isn't the federal government's job. Rep. Virginia Foxx, chair of the Higher Education Subcommittee, even argued that it's unnecessary for any student to borrow money to go to college in the first place....."

For my story of how bad things got while I was in college, click here. It explains why this is such a bad idea. Things aren't as bad as they were, but things still aren't great. I can only hope that once I start my new job in my field, things will finally turn around.


MotivatedinOhio said...

These people are disgusting.  In every way, they try to screw the American people.

Underground Politics said...

That they do. And everyone single one of them that thinks that way, needs their ass thrown out of office.