Do you think the President is at fault for all of this?
2006-07-01 06:03:19 · 6 answers · asked by Anonymous in Education & Reference ➔ Financial Aid
Education is the foundation for society, what is our administration telling us? We should have to suffer and pay high tuitions and on top of that high interest rates? This is not like buying a house, this is our path to the future and were being penalized for it.
2006-07-01 06:11:02 · update #1
Loan rates are in control of the FED. As with most government, mortgage and other loans the rates are determined by the FED not the president (all he does is rubber stamp the FED chair). The loan rates are high in times when the economy is picking up and lower when the economy is doing too well, so under Clinton the student loan rates were higher than now, but since the economy has started to rise again (growth rates are 3 to 4 percent) the rates raise to curb inflation. It's just bad luck for you, but you can always hope for economic downturn, so the FED lowers interest rates to stimulate the economy.
2006-07-01 07:43:25 · answer #1 · answered by Anonymous · 7⤊ 1⤋
If we were serious about education, the USA could EASILY fund an undergraduate education for every citizen.
But we don't even fund our primary, secondary and high schools well enough.
Everything starts with your parents and the way that they bring you up. That is number one. But right after that, your education makes a tremendous difference in your life. Teaching should be one of the highest-paid professions out there. It is as important as the work doctors and dentists do.
So yes, it sucks that loan rates are going up, but we are in a system that is faulty from the ground up anyhow.
The President is likely under pressure from others to do this. He isn't smart enough to come to a conclusion about student loans himself. He probably doesn't even know that they exist.
2006-07-01 13:11:00 · answer #2 · answered by eyebum 5 · 0⤊ 0⤋
I think that it is terrible that all interest rates seem to be rising. Both student loans and home loan rates going up sure hurts the working class. Not sure if it is Presidential problem or an economy problem. Stinks none the less.
2006-07-01 15:53:35 · answer #3 · answered by winchamp 3 · 0⤊ 0⤋
economy is going south, its poor budgeting and poor investments. The student loan rates made my best friend reconsider higher education. That is really sad. Some people wont get to go to college because some old geyser wants more money.
2006-07-01 13:09:58 · answer #4 · answered by ♣ 4 · 0⤊ 0⤋
It is sad and I hope people locked in the lower rate. However, for new college grads and college bound folks, apply for grants, and any free money early in HS.
2006-07-01 13:22:09 · answer #5 · answered by Rock_N_Roll_Chicky 5 · 0⤊ 0⤋
and why would you say that, do you think you are special? Just because your may be a student dose not mean you should get Special treatment on loans!
2006-07-01 13:07:59 · answer #6 · answered by Pobept 6 · 0⤊ 0⤋