of course it's crap. But don't forget, it's to help pay for Katrina. That tax cut has nothing to do with this, that's just something the double-plus-ungood liberals made up to bash Bush with.
On 1/9/06, Gruss Gott <[EMAIL PROTECTED]> wrote: > Anybody else think this is crap especially given the amount of Pork > this Congress and President have been spending? > > Congress Cuts Funding For Student Loans > Loss of $12.7 Billion Means That Graduates Will Face Higher > Interest Payments, Fewer Options > > By ANNE MARIE CHAKER > Staff Reporter of THE WALL STREET JOURNAL > > Congress yesterday cut funding for federal student-loan programs, a > move that is expected to increase the debt burden for many future > college graduates and their families. > > The reduced financing is part of a $40 billion deficit-reduction > package passed by the Senate. Federal student-loan programs make up > the largest chunk of the spending trims -- $12.7 billion over five > years. To help limit spending, Congress raised interest rates on the > popular Stafford loans to a fixed 6.8%, even if commercial rates are > lower, and cut subsidies to lenders. Other affected programs include > Medicaid and pension insurance. > > [SNIP] > > Today, that rate is as low as 4.7%, and students can lock it in thanks > to the Federal Consolidation Loan Program, which allows for a one-time > opportunity to refinance. > > Under the new legislation, the interest rate changes to a fixed rate > of 6.8% starting July 1, 2006, on Stafford loans. > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Message: http://www.houseoffusion.com/lists.cfm/link=i:4:228888 Archives: http://www.houseoffusion.com/cf_lists/threads.cfm/4 Subscription: http://www.houseoffusion.com/lists.cfm/link=s:4 Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.4 Donations & Support: http://www.houseoffusion.com/tiny.cfm/54
