Saturday, September 08, 2007
Student loan rates cut in half?
Marketplace: "Congress is set to pass legislation that would increase student Pell grants and cut loan rates by about half, and President Bush says he'll sign it. Just about everyone's in favor, everyone except lenders."
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9 comments:
Well i'm game. Can i take out a loan to pay back the ones I already have right now, without having to pay the existing interest? Education in this country is getting way too expensive. I know inflation hurts and all, but its not just inflation. Its accepted now that like gas, college prices will keep going up and its just something you have to deal with.
I'm torn, at first I read this and thought, genius! But as I continued through the article, I realized all of the potential problems. So as much as I would love to not have to pay back money until I die, maybe I'll have to settle for just that. I guess at this point, I feel like having the ability to take out loans is better than nothing.
There are a few points that just scream a backfire. Like they mentioned, WHERE is the money going to come from? And what if lenders retaliate by making thier standards higher for recieving loans? That would screw over more people. But also, if this is not into affect until 2012, does this not benefit me? It would make sense that all the loans signed before then would stay the same.
Why on earth were you guys writing comments at 4 and 6 in the morning!?!?!?!?!
I think that the money should be coming from the government. I don't know a lot about economics, but I'm pretty sure that taxes are going to things I would sacrifice (war?) for a higher education that won't leave me owing more money than I'll earn in 5 years.
why couldn't this have happened four years ago? this article does a good job of pointing out the pros and cons, although i feel that the lenders ought to just suck it up, i can see why it is not a fully celebrated plan. while in europe this summer i got into several conversations about education systems and how the american system is one of the most expensive. i was shocked to find that in all six of the countries i visited this summer college education is free, and in some places they pay you to go to school. In sweden those studying the arts are paid to go to school AND get paid vacations, for artistic develoement. the education system in the states is one of the top issues that i feel needs to be addressed in the next administration.
Government should more care young generation. They are the future pillars of country! Nowadays, the life is more and more expensive, and the tuition as well. Many families can’t offer their children to have higher and better education. So they need to apply student loan. If the loan rate is high, the young people need to work hard for returning the loan after graduation. Then they seem never be able to start to set up their own family and life. Another thing that high rate may result is only the kids from rich family can continue their education. Then that would be awful. So~ young people move! Go to get money before the government spends money on other countries.
The more that the government can do to make education available to everyone, the better. With college education prices going up and a degree becoming mandatory for jobs, college needs to be made more accessible. No one should have to settle for a school that isn't the right fit for them for money reasons.
sounds good to me.
problem is, it'll never happen. We all know that legislation in this country is slower than it takes Bush to spell "legislation." That's not true, he'd spell it pretty fast. Unfortunately, it would look more like "lejislayshun." The lender lobbyist will step right in, just like the healthcare lobbyists stepped in right before legislation could every actually be written into law. I won't hold my breath. But if it goes through, hey, i didn't waste any energy holding my breath, and I might end up with a few more bucks in my pocket
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