I guess i disagree. I think there SHOULD be access to cheap money, when the aim is education, and i have NO problem with my tax dollars subsidizing such a thing. In fact, i can think of little today that would provide a more beneficial return on my investment, than educating my countrymen.
On Wed, Jun 13, 2012 at 12:06 PM, Cameron Childress <[email protected]>wrote: > > Wow - what better way to prove the point of the article, which was that the > problem IS NOT THE RATE. THE PROBLEM IS EASY ACCESS TO THE MONEY. Yet, > every single response is about the rate. > > Misdirection achieved, we are truly doomed to repeat history. > > -Cameron > > On Wed, Jun 13, 2012 at 11:46 AM, C. Hatton Humphrey <[email protected] > >wrote: > > > > > "Absent congressional action, the interest rates on federally > subsidized > > > student loans will double to 6.8 percent on July 1. Both President > Barack > > > Obama and former Gov. Mitt Romney have urged Congress to act before > that > > > deadline, but no one seems willing to state the obvious: The problem is > > not > > > the interest rate but that the federal government subsidizes student > > loans > > > at all." > > > > > > http://bit.ly/L5993W > > > > > > Pop. > > > > > > > Pop quiz: How much of the student loans are impacted by this change in > > interest rate? > > Answer: Only Stafford loans that are initiated for the 2012-2013 school > > year are impacted, previous loans are not impacted. > > > > The student loan rates are locked at the time of borrowing. Past loan > > payment amounts aren't going to be impacted. Furthermore, this does not > > reflect a "doubling or tripling" of payments. If you look at the > > amortization schedules > > $5000 at 3.8% interest over 10 years ( > > http://www.amortization-calc.com/#loan-5000-10-3.8-6-2012-2) has a > payment > > of $50.15 > > $5000 at 6.8% interest over 10 years ( > > http://www.amortization-calc.com/#loan-5000-10-6.8-6-2012-2) has a > payment > > of $57.54 > > > > > > > http://www.nytimes.com/2012/05/10/opinion/much-ado-about-students-loans.html?_r=1 > > has > > a lot of information about this issue, including the fact that as > recently > > as 2007, student loan rates were at 6.7%. > > > > While I agree that there's a severe problem with the higher education > model > > in this country, I don't think the issue is as much around the interest > > rate as it is around the structure and concepts associated with the way > > colleges work, spend and charge students for their products & services. > > > > That, however, is a subject for a different conversation. > > > > Until Later! > > C. Hatton Humphrey > > http://www.eastcoastconservative.com > > > > No trees were killed in the sending of this message, but a large number > of > > electrons were terribly inconvenienced. > > > > > > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:351927 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
