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Student Loan Rates Set To Double On July 1

Business  (tags: money, government, finance, student loans, usa, society, politics, news )

- 1727 days ago -
The interest rate on government-backed student loans is going to jump from 3.4 percent to 6.8 percent Monday.Republicans, Democrats and the Obama administration could not agree on a plan to keep it from happening

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Alice C (1797)
Friday June 28, 2013, 4:43 am
Thanks Cal ~ shared

Past Member (0)
Friday June 28, 2013, 4:50 am
Maybe then people will not view college as 4 years of party instead of education, and reduce the shockingly high number of students who refuse to live like poor people while in college.

Teresa W (782)
Friday June 28, 2013, 5:44 am

Gene J (290)
Friday June 28, 2013, 6:24 am
This is the Republican Party's 4th of July gift to its 1% banker puppetmasters. The only people who benefit here are banks who will now get the business of student loans at double the interest which will make it profitable, ever so nicely profitable for them to get back into the business of playing shyster to academia.

Stephen Brian (23)
Friday June 28, 2013, 7:54 am
I might sound a little nuts here, but I am glad to see interst-rates go up. I just wish the rates went up only for new students, not those who have already taken out loans or invested years in an education they may no longer be able to afford to complete.

Nikki J (15)
Friday June 28, 2013, 8:34 am
Interests rates going up is a better sign for the economy but lets hope they don't continue to rise for as longs as they did before because it inevitably leads to an economic crash as it did a few years ago. Stability and slow rises would be preferred.

Carol H (229)
Friday June 28, 2013, 8:56 am
this is not good, noted with concern

pam w (139)
Friday June 28, 2013, 11:01 am
STUPID! (Unless your real agenda is to create an increasingly UNINFORMED electorate??????)

Bryna Pizzo (139)
Friday June 28, 2013, 11:03 am
Thank you for the news. We have to persuade them to correct this. Higher education has become a pawn of corporate interests and greed and that must be stopped for the sake of students and the nation as a whole.

Past Member (0)
Friday June 28, 2013, 12:04 pm
My nieces will have to work until they are 95 to pay off their damn loans! It's discouraging for kids who DO want a higher education!

Past Member (0)
Friday June 28, 2013, 12:32 pm
Thats not good

Birgit W (160)
Friday June 28, 2013, 4:11 pm

Judith Hand (55)
Friday June 28, 2013, 6:14 pm
Noted on June 28 PM. A close friend, who can ill afford it, will be facing this on Monday. I hope that Congress or even our President get it together and don't let this happen!

Eternal G (745)
Friday June 28, 2013, 7:36 pm
Because they couldn't agree? What a load of unforgivable baloney!

Nan Towle (75)
Friday June 28, 2013, 9:41 pm
If we are to remain competitive with the rest of the world we need to find ways to make higher education more affordable and accessible to those who are starting out, and others who are specializing and furthering or broadening their knowledge base. Our youth is our future and the world's future. We have to start reinventing ourselves and achieving excellence right here, and not outsource everything.
Cost of living is extremely high and salaries do not keep up with it. For someone starting out on their own, or supporting a family, working and going to school, If the loans become too high to pay back they will just be defaulted upon. When rates are increased for educational pursuits something more gradual and reasonable needs to be put in place. Something that is more equitable for all parties involved. We have to consider what we are trying to achieve and carve out a path to make it happen.

Katie & Bill D (107)
Friday June 28, 2013, 10:58 pm
Its already hard enough to pay off a student loan! Why make it WORSE???
This doesn't give the students a chance to get started!! They will al have Ulcers with their families worrying!
Thank You

paul m (93)
Saturday June 29, 2013, 5:35 am

So Stupid,, Makeing it impossible for a lot of students to get a decent Education, God help the next generation
and after that ,you will have a Nation of unemployed, uneducated young people with no future..

Jaime Alves (52)
Saturday June 29, 2013, 2:36 pm

Lois Jordan (63)
Saturday June 29, 2013, 2:40 pm
Sen. Elizabeth Warren was pushing a bill tied to what the banksters are now receiving, which is less than 1% interest....for future college loans. Because Goldman Sacks and the other greedy thieves are running the show, this bill had little support. I've been signing petitions and sending letters in support of Warren's bill for awhile....apparently for naught. What is the matter with Congress and POTUS?!

Claudia O (73)
Saturday June 29, 2013, 3:13 pm
They could not agree, so just dumped it. Typical. Meanwhile our young people suffer again.

Phil P (94)
Saturday June 29, 2013, 3:53 pm
The politicians are planning on a large piece of the huge profits the banks will make from this action.

Suggest the Govt cease from guaranteeing these loans and everyone who has some of the trillion $$$$$$$$$$$$$$$$$$ in out standing loans simply stop paying. Let the banks feel what it's like to take it up the butt.

Deborah W (6)
Saturday June 29, 2013, 9:38 pm
Herd the President, Democrats and Republicans into a room, lclose the windows, lock the doors and vow not to let them out until needed change is put into effect. If not enforced, as so many "passed" initiatives are not, haul back again and do it all over until they get it right. Just sayin ...

Julie F (68)
Sunday June 30, 2013, 8:11 am
Are you kidding me?

Jeanne R (1208)
Sunday June 30, 2013, 7:49 pm
Noted. Thanks.

Mark p.muc (31)
Monday July 1, 2013, 4:24 am
Thanks ...

Melania P (122)
Saturday July 6, 2013, 8:52 pm
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