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View Diary: Federal student loan interest slated to rise back to 6.8% (43 comments)

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  •  UMass in '98 cost $5K/semester (2+ / 0-)
    Recommended by:
    radical simplicity, Odysseus

    and loans didn't cover cost of living in any way. Even with 2 part time jobs, I couldn't finish because of the cost. No idea what the interest rate was, but I made sure to pay that sucker off before even considering buying a house.

    "I just wanted to bring down your grim facade and for once, let you see the world as I see it. Giggling in a corner, and bleeding; but you've denied me even that." - The Joker to Batman, Arkham Asylum.

    by DeathDlr73 on Fri Mar 29, 2013 at 09:31:18 AM PDT

    [ Parent ]

    •  good for you... (1+ / 0-)
      Recommended by:
      Lasgalen Lothir

      most here think those loans should just be flushed down the toilet.

      _"Love is the rosebud of an hour; Friendship the everlasting flower."_ Brook Boothby

      by Keith930 on Sat Mar 30, 2013 at 07:08:46 PM PDT

      [ Parent ]

      •  No (3+ / 0-)
        Recommended by:
        sandblaster, Eyesbright, jfdunphy

        The reality is that stafford int rates should be lowered to reflect the 10 year treasury rate. At 3% the interest charge would in effect give the middle class an instant raise. It's a stimulus package that would help the economy get back on a growth path.

        •  yeah..that's convenient (1+ / 0-)
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          Lasgalen Lothir

          How about you pay my electric bill and fill my freezer with some meat.  That will stimulate the economy as well.

          _"Love is the rosebud of an hour; Friendship the everlasting flower."_ Brook Boothby

          by Keith930 on Sat Mar 30, 2013 at 07:31:52 PM PDT

          [ Parent ]

          •  And how does this comment (1+ / 0-)
            Recommended by:
            lurkyloo

            Advance civil discussion?

            We spent a trillion dollars bailing out the banks in 2008 and 2009.

            Student loan debt is at least a trillion dollars today. The wrong question is being asked by congress. I certainly never said zero the loans out.  I implied that treasury would actually increase loan repayment rates with an interest rate reduction.

            Treasury can borrow at essentially 0% from the bond market. Treasury is still making money at 3%.

            If we don't take steps to make repayment possible large chunks of the debt will just be written off with the death of the borrowers.

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