http://www.usnews.com/news/articles/2013/06/18/student-loan-rates-become-latest-partisan-football-in-congress
It might be time for college students around the country to sound the panic button: The future of their student loan payments is dependent on Congress taking rare bipartisan action in the next two weeks.On July 1, interest rates on new subsidized federal student loans will double from 3.4 percent to 6.8 percent. And while options to curb the rise are numerous, a consensus remains unlikely.
you hear some republican saying daily how they support this and that and they remain focused on jobs, well you can say you support something and that you're focused on something but neither of those actually means you'll do anything, that has proven out by those making those half ass claims.
once again the salvation lies with congress, and they appear to be right where we left them last time.
The Republican-controlled House passed the Smarter Solutions for Students Act in May, a loan reform plan that would link the student loan interest rates to a market-based rate plus an added 2.5 percent. The loan rate would never be higher than 8.5 percent, but could vary throughout a loan's life.Though the legislation is fairly close to an outline President Barack Obama introduced earlier this year, the White House has threatened to veto the GOP plan. Under the president's plan, student loans would be tied to Treasury rates, but would add 0.9 percent more to the rate and would be fixed for the duration of the loan. There would be no cap on the loan interest rates.In the Senate, the student loan debate is more complicated: Republicans and Democrats don't agree on a framework. And even Democrats want a different solution than does President Obama.
without question Pres.'s plan is better for those fresh out of school some with jobs some without, easier to make payments on a reasonable loan then one too high and you default then money is spent by the banks to get it back, collectors though relentless have to taper off after awhile.
makes more sense to make a reasonable payback more like to be payed back then ruining peoples lives because of your greed, that's corporate America.
