Thursday, July 18, 2013

Senators Reach Agreement to Keep Student Loan Rates From Doubling


http://www.usnews.com/news/articles/2013/07/18/senators-reach-agreement-to-keep-student-loan-rates-from-doubling

everytime i pull the keyboard close, there is a story of the republicans finally able to reach an agreement to not screw "we the people" out of something, 
Article Photothey claim how much they care if so why are there daily articles described as fragile which means maybe on "they finally.., if congress...,will congress..., congress..., all are obstructionary in nature and are at there outset are denials of something that only became an issue before Nov. 20008, but now have been the seeds of our destruction by dysfunction.
On July 1, the interest rates on the loans doubled from 3.4 percent to 6.8 percent. While many Democrats had advocated to simply extend the 3.4 percent interest rate for another year, Republicans and the president had advocated to tie the student loan interest rates to a market rate. Republicans in the House had passed a bill that did exactly that in May.
Under the new deal, undergraduate, graduate and PLUS loans, which parents take out on behalf of their children, will all be tied to Treasury notes plus and added percentage.
For undergraduates, Stafford loans will be offered at 3.86 percent. That means they will take out loans at a slightly higher interest rate than they did in the spring. Graduate students and parents, however, will see their interest rates drop on loans. Graduate students will be offered loans with a 5.4 percent interest rate. And parents can take out loans for their children at 6.4 percent.
The framework is expected to lower the deficit by an estimated $715 million during the next decade, according to the Associated Press.
what you just read sounds great and achievable to those parents and students.  they for all practical purposes denied education and advancement of this country via that education, why would anyone want to exploit the hunger for knowledge by prioritizing it out of existence, isn't that something that took place in Communist countries refusal to educate,  that have now seen the light and educating their people up the wazoo.