Congress agrees on $20 billion increase on college loans
Filed in Advance Center on Jun.29, 2012
Well it looks like Congress will act just in the nick of time to preventstudent loan interest rates from doubling from 3.4 percent to 6.8 percent on July1, but there’s more. Starting Sunday students will have to start payinginterest rates on loans while they are still in school and will no longer begiven a grace period to start paying off their debt once they graduate. RobertApplebaum, founder of ForgiveStudentLoanDebt.com, joins us with his take on howCongress is screwing college students.StudentLoanDebt.com, joins us with his take on how Congress is screwing college students. Like us and/or follow us: twitter.com www.facebook.com
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June 29th, 2012
There are very few new good jobs in the US anymore. There is no more middle class. Its dead.
June 29th, 2012
people with arts degrees and 100k in debt will be screwed
June 29th, 2012
Its time for a worldwide massive default. We should organize a few million students to default en masse.
June 29th, 2012
I thought slavery was finished, debt slavery is now the main agenda for the US Government, the land of the free is finished, Democracey and the Constitution is now a joke.
WTF happened to the greatest country on the Earth….????
June 29th, 2012
They need to have their business charters REVOKED. They should not be allowed to headquarter in the US and abuse the system for their benefit if they refuse to contribute.
June 29th, 2012
college has just become another industry, another racket for the jews, and a fraud ,they know damn well they plan on outsourcing all the jobs, and insourcing to legal and illegal immigrants ,and lowering wages for US college grads to sub living standards ,these people are parasites , they will just cannibalize the society until it collapses
June 29th, 2012
Great idea. Take an industry that’s operating as usual, regulate and subsidize it so costs go through the roof, and get the government to take it over for being an expensive failure. Its already worked so well for health care, housing, and the banking systems. Its not like the greatest colleges in the world contribute anything to the US.
June 29th, 2012
You cannot have a Western modern CIVILIZED nation based entirely on “service sector” and consumption. It will collapse. It is unsustainable. We cannot allow slaves operating robots in China to make everything on earth. That is the perfect race to the bottom strategy. We are all out competing each other to see who can be the most enslaved. A generation from now there will be 1 of 2 outcomes: Complete enslavement of all working people OR the rebirth of the guillotine and revolution.
June 29th, 2012
I did that for as far as I could (an associates) but unfortunately my passion in life is designing buildings. If I ever wanted to be able to design buildings i.e. become an architect it is required in almost every state that I attain a Masters of Architecture from an accredited NAAB degree.This is because of government regulations on this job sector.Any M.Arch program costs an exorbitant amount of money because of the inflated educational system, thus to follow my passion, debt was the only way.
June 29th, 2012
its called raising taxes on a horrendously low tax rate
June 29th, 2012
obama and congress and the 1% should pay national debt out of their pockets and not out of peoples pockets
June 29th, 2012
obama should send swat on congress and himself
June 29th, 2012
so you think they should just ban free travel and move of kapital? Yea let them do it, but before the law will come the existance ppl will run out of country. PPL strarting to drop thier citizenship, do you think they should ban this too? I heard from so many dump ppl in us that US is free as long as ppl can leave it. If they ever do that what is the difference then between NK and US? NK is basically huge commie prision
June 29th, 2012
can students still apply for deferment?????????
June 29th, 2012
typical, kick the can down the road a bit. Until they start addressing the real issue (out of control banks) then all this is just going to make it worse
June 29th, 2012
Where is all this money to go to college coming from? Why, at the same time graduates in some areas can’t find jobs, are new students coming in paying 27% more? Its because the government is taking the role of the parent, providing access to college. And its being a bad parent, giving out loans to clown colleges. If loans were only given out to people who would realistically have a job lined up, costs would drop, but even if they did go up people would still be able to pay their loans off.
June 29th, 2012
the fraudulent school system is one of the biggest cash cows there is. REVOLT!!!
June 29th, 2012
You can increase taxes, but at this point that will only decrease tax revenue for the government. Check out has happened in New York and California when they increased their tax rates. People fled, and the amount of taxed collected dropped. The US can raise taxes as a whole, but companies will just go overseas. As long as there’s free travel, companies will go as they please. Without free travel, there’s no way to convince companies to come to you.
June 29th, 2012
College tuitions across the board went up an AVERAGE of 27% in 2011. Do you think the books cost more all of a sudden? Tenure and greed is the only factor.
June 29th, 2012
WELL THEN LET THEM ENJOY THE FREEBIES. THEY WILL SOON JOIN THE CLUB : GREECE SPAIN PORTUGAL ITALY SO MUCH FOR YOUR SOCIALIST BULLSHIT
June 29th, 2012
here’s an idea, try SAVING ACTUAL MONEY for school instead of accumulating ass loads of debt for it. Why does everybody automatically assume that they need to barrow tens or even hundtreds of thousands of dollars to go to school? Community collages are cheap as shit. My local CC costs just a few hundred dollars per semester, per class. GO TO WORK, and pay for classes up front AS YOU CAN AFFORD THEM.
June 29th, 2012
America the broken.
June 29th, 2012
If you owned a company and had 100 products, but 200 people wanted them, wouldn’t you raise your prices as well? Congress is to blame, not colleges, for making student loans available to anyone. That caused a flood of people wanting to go to school who were to naive to care about what it costs, since that only matters later. Colleges in other countries are much cheaper since they are in a different market, but what’s important is what creates the market conditions.
June 29th, 2012
INCREASE TAXES YO
June 29th, 2012
IN SOCIALIST SWEDEN THE GOVERNMENT GIVES YOU MONEY TO STUDY AND WRITES OFF LOANS BEYOND A CERTAIN POINT IN TIME.