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

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  •  6.8% isn't gouging (1+ / 0-)
    Recommended by:
    Lasgalen Lothir

    It's much less than any other type of unsecured loan you could ever find.  The problem is that...in this economy, everyone still feels like they are entitled to a college education, regardless of what they major in, and regardless of the job prospects awaiting them on the other end of the sheepskin.

    There are so many kids going to college...prepping for jobs that don't await them...and yet, what else will they do?  They don't want to be failures, so they feel like they need to go to college.  If they can't afford it, they borrow.  

    Whether they ever really have any clear plan, avenue or intent to pay it back or not.  Society owes it to them...and fuck you if you don't see it that way.

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

    by Keith930 on Sat Mar 30, 2013 at 07:03:01 PM PDT

    •  The lifetime roi (3+ / 0-)
      Recommended by:
      TacoPie, Naniboujou, Ramoth

      On education to society is at least 4%. Discounting the interest rate to 3% is a tacit recognition of that value.  Student loans are not credit cards nor is education a luxury item for individuals or society.

    •  "In this economy" (3+ / 0-)
      Recommended by:
      HM2Viking, Naniboujou, Ramoth

      So the fact that we have a temporary demand-side slump means that millions of Americans should completely alter their career paths and flood the already oversaturated labor markets available to those with only high school level educations instead of training for any sort of specialized skill that might be useful if our politicians ever got their act together and tackled the demand problem with fiscal policy?

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