Perdido 03

Perdido 03

Friday, March 29, 2013

Interest Rates For Student Loans Set To Double

This is bad:

WASHINGTON — Congressional inaction could end up costing college students an extra $5,000 on their new loans.

The rate for subsidized Stafford loans is set to increase from 3.4 percent to 6.8 percent on July 1, just as millions of new college students start signing up for fall courses. The difference between the two rates adds up to $6 billion.

Just a year ago, lawmakers faced a similar deadline and dodged the rate increase amid the heated presidential campaign between President Barack Obama and Republican challenger Mitt Romney. But that was with the White House up for grabs and before Washington was consumed by budget standoffs that now seem routine.

“What is definitely clear, this time around, there doesn’t seem to be as much outcry,” said Justin Draeger, president of the National Association of Student Financial Aid Administrators. “We’re advising our members to tell students that the interest rates are going to double on new student loans, to 6.8 percent.”

The rates do not count for subsidized loans previously taken out by students - just for future Stafford subsidized loans.

Unsubsidized and private student loan rates are not expected to change.

Let's see, the banks get money at 0% and lend it out at 3.4% -hmm, that's a pretty good deal for the banks.

Now they get money at 0% and lend it out at 6.8% - and the loans are "guaranteed".

Sure is good to be bankster.

Might say it's better to be a bankster than even a king.

And where is Obama in all of this?

So far, pretty silent.

10 comments:

  1. Your blogs are absolutely value bountiful time and also endeavor. online payday loan lenders

    ReplyDelete
  2. Well, I have got the best information from here the site is fully stuffed with the knowledgeable information. Simo konstanen

    ReplyDelete
  3. If the borrower does not have enough valuable assets or a lawsuit would exceed the amount recovered from the debtor, the Department will most likely decide against suing the borrower.
    bankruptcy filing

    ReplyDelete
  4. Much obliged to you for sharing such extraordinary data. It has help me in discovering more insight aboutInterest Rate For Education Loan

    ReplyDelete
  5. This comment has been removed by the author.

    ReplyDelete

  6. Informative post .Thank you for sharing the information would like to know more on Education Loan Interest Rates.Education Loan Interest Rates

    ReplyDelete
  7. This article helped me to know a lot of information Education Loan Interest Rate for more details please visit

    ReplyDelete

  8. شركة كيان لنقل العفش بالرياض والمدينة المنورة وجدة ومكة والطائف والدمام تقديم لكم دليل كامل لشركات نقل العفش بالمملكة العربية السعودية

    نقل عفش شركة كيان
    دليل شركات نقل العفش
    شركة نقل عفش بالمدينة المنورة
    شركة نقل اثاث بالرياض
    شركة نقل عفش بجدة

    ReplyDelete
  9. Thanks for sharing that knowledge its very helpful you will always visit this link
    recycle iphone x 64gb

    recycle iphone x 64gb

    ReplyDelete
  10. Your Article Is Well Written And Simple To Understand. You Make Excellent Points. Thanks For The Blog…..

    ReplyDelete