6 Reasons Why Today's Halving the Student Loan Rate is a Bad Idea

The Heritage Foundation has a great article on why the legislation scheduled today to be passed is a bad idea.

1) Federal spending on student financial aid is already skyrocketing.
2) Students already have many options for federal grants and low-interest loans.
3) Student aid subsidies are already set to increase much further.
4) Tuition costs rise with financial aid.
5) Lower interest rates will not increase access to college.
6) Most college graduates can afford to repay their student loans.

Rather than providing billions in new federal subsidies, Congress should instead focus on the fundamental problem of college affordability: out-of-control higher education costs. Congress should determine whether ever-increasing federal subsidies for higher education contribute to increasing college costs.

Reference
http://www.heritage.org/Research/Education/wm1308.cfm

Financial Aid Hymn ;-)

Email or YouTube me your student loan stories

If you have a gripe about your student loan, email me your story at studentdebt@gmail.com.
Better yet! Make a YouTube video and I'll post it on this blog.

Email me at studentdebt@gmail.com when you get your video up on YouTube.

Along with any rant you might have, try to answer these questions in your video clip:
1) How much was your original student loan ?

2) Has the benefits of the loan outweighed the troubles ?

3) What personal problems has student loan debt caused in your life ?

4) If you had to do it all over again, what would you do differently ?

5) How much left do you have to pay off ?