Student Loan Rates Set To Double

[jeffrey]

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. Lawmakers say a deal is still possible after the July 4 recess. But if they don't agree on a plan soon, 7 million students expected to take out new Stafford loans could be stuck with a much bigger bill when they start paying the money back...

http://www.npr.org/2013/06/28/196243698/student-loan-rates-set-to-double-on-july-1

[ESMonitor]

I saw that. Our country is suffering and sinking on a number of different levels.

If i may quote my buddy...."Our country is going to heck in a hand cart....and there's not going be anyone there to sign for it....and somebody's going to get the bill."

[phantom]

7 million students expected to take out new Stafford loans could be stuck with a much bigger bill when they start paying the money back.

I find it interesting that they assume that 7 million students will take out the same loans whether or not the rates double. With almost anything else in this world, if you double the price, you expect fewer people to buy it. But, student loan debt is different. I'm not sure if I'm more bothered by the people who assume that when you raise the price of school debt, people will still take on the same amount of debt or at the people whose actions make that assumption correct.

[Tonyall]

This is what happens when you elect extremist, uncompromising goofballs. It all makes me sick.