Congress seems to be set to pass a bill that will extend the 3.4% rate for undergraduate loans for another year (at which time it will again be set to expire and double to 6.8) but as a "compromise" is ditching the grace period so students have to start payments right out of school. How that makes sense with the graduate unemployment rate, I do not know. And nothing budged on graduate loans- still no more subsidized loans and 6.8% rate.
The debt burden often gets framed in the context of "think of the children", but then actions like this make it seem like that is a very insincere claim. The government is currently financing at record low interest rates and they think that saving what amounts to pennies in relation to the budget in exchange for burdening those very young people with greater short term debt, something that is often a lot harder for students to finance than it is for the government to finance its debt, is a gesture of sincerity to the future? Bullshit (excuse the language, but that is what it is). This is politics and nothing more.
All austerity is not good.
http://www.boston.com/news/educatio...udent-loans/o4ng91u0WIqNgZwSjgW0eN/story.html
The debt burden often gets framed in the context of "think of the children", but then actions like this make it seem like that is a very insincere claim. The government is currently financing at record low interest rates and they think that saving what amounts to pennies in relation to the budget in exchange for burdening those very young people with greater short term debt, something that is often a lot harder for students to finance than it is for the government to finance its debt, is a gesture of sincerity to the future? Bullshit (excuse the language, but that is what it is). This is politics and nothing more.
All austerity is not good.
http://www.boston.com/news/educatio...udent-loans/o4ng91u0WIqNgZwSjgW0eN/story.html
