$24.61, Fed rate at zero but students are on their own
It's Official: Student Loan Rates Will Double Monday
More than 7 million students will see interest rates on their student loans double from 3.4 to 6.8 percent on Monday, after the failure of Congress to pass legislation to prevent the automatic rate hike that they successfully deferred for a year last summer.
Again, thanks to the obstructionists who want to tie the loans to market rates!!! Why?
Well Obama could (if he really wanted to) issue another one of his executive orders to circumvent Congress. He has been doing that for 5 years now. Oh but he chose a different path didn't he. Just like he did with Sequestration. It's all political and it is Obama and the Democrats who are obstructing progress for a political agenda and punishing average Americans no matter what the costs to us. It's all about that progressive/socialist/communist agenda of the Obstructionist Democrats and liberals. No matter the costs to us. No matter the costs to us.
Student loans are the next bubble to burst, and they've been abused / used for everything but education ever since they were made so cheap and easy to get. Any idea how much is out in loans right now? Hint, starts with a T.
You want me to post the delinquency figures on what's out there already? The billion issued to crime rings that have been taking advantage of a system that's just giving money away? The billion last year, I meant. Not the billion the year before. Or before that. Last year only.