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View Full Version : Interest rate on student loan in us will double from 1st july



maheenangel74
03-29-2012, 07:04 AM
Thanks to the legislature system in United States of America; American students have to pay double interest rate on student loan. The interest rate which is currently at 3.4 percent will become 6.8 automatically from 1st of July. The badly affected portion of students will be those who belong to the middle class.

Read details: http://tinyurl.ms/4y41

MMC
03-29-2012, 07:19 AM
Not only are they raising the Interest Rates M.A.....but they are raising fees as well.

Dagny
03-29-2012, 08:09 AM
http://www.cbsnews.com/8301-503544_162-20126172-503544/who-will-benefit-from-obamas-student-loan-plan/

Chris
03-29-2012, 01:57 PM
The Next Scary Hockey Stick Chart (http://politicalcalculations.blogspot.com/2012/03/next-scary-hockey-stick-chart.html)

http://i.snag.gy/PL1Iy.jpg

Peter1469
03-29-2012, 04:54 PM
My federal student loans were at 7.5%.

The problem with student loans is that they cannot be discharged in bankruptcy.

Federal involvement in the student loan process drives up tuition.

Outstanding student loan debt has exceeded $1T in the US!

http://whiskeyandgunpowder.com/the-great-student-loan-debt-default/

Conley
03-29-2012, 05:15 PM
With the federal rate so low some of these interest charges seem exorbitant. Great for the ones who are offering them, not so good for the ones foolish enough to take them. You better be darn sure you're studying something that will get you employed right away upon graduation.

MMC
03-29-2012, 05:41 PM
With the federal rate so low some of these interest charges seem exorbitant. Great for the ones who are offering them, not so good for the ones foolish enough to take them. You better be darn sure you're studying something that will get you employed right away upon graduation.

What you mean there isnt a high demand for philosphers or Town Criers? :shocked:

Chris
03-29-2012, 10:14 PM
"The problem with student loans is that they cannot be discharged in bankruptcy."

Other problem is they allow schools to raise prices exorbitantly. Just another form of crony capitalism.

Peter1469
03-30-2012, 03:58 PM
"The problem with student loans is that they cannot be discharged in bankruptcy."

Other problem is they allow schools to raise prices exorbitantly. Just another form of crony capitalism.

School loans on their own may have had some effect on schools increasing tuition. The real problem came when the federal government took over the program, pumped money into it, and had the taxpayers underwrite the loans.

MMC
03-30-2012, 04:25 PM
Why do they do that with the cost if they (meaning, liberal insituitions) want more people educated? Then run around complaining there are not enough educated people around. That we need more education.

Chris
03-30-2012, 07:32 PM
School loans on their own may have had some effect on schools increasing tuition. The real problem came when the federal government took over the program, pumped money into it, and had the taxpayers underwrite the loans.

Agree, the loans are just piling on.

Peter1469
03-30-2012, 08:19 PM
Student loans in default surpassed $1T.