Partisan Bickering over Students Loans by Sharon Day

Catherine, Yesterday, students all over the country saw interest rates double on their student loans thanks to Harry Reid and Senate Democrats. House Republicans passed a bipartisan plan that would keep student loan rates low. Despite the fact that the Republican legislation contained the same reforms proposed by President Obama himself, Democrat leadership refused to come to the table and agree to bipartisan solutions. The Democrats have decided to place partisan bickering ahead of our nation's students. This is unacceptable. Sign the petition to tell President Obama and Senate Democrats to stop playing politics with student loans!  Thanks, Sharon Day RNC Co-Chair

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REPLY:Do explain this: tieing "the interest to the U.S. Treasury 10-year rate plus 3 percentage points and direct any savings to deficit reduction"--how exactly would it affect my loans. Or better yet, my children's loans. What will the rates be in 50 years?

Student loan interest rates should ONLY cover the cost of managing the loan plus a reasonable amount of inflation so that the fund can be used to fund the educations of our future students. It should NOT be going into the pockets of bank presidents.

There are a number of reasonable compromises that don't involve charging students anything more. Like making government student loans the actual responsibility of the government instead of a private bank who is making a profit. Or better yet, giving the loans over to the schools in question to run and, hey, how about letting them hire students to do the work so that they can learn a thing or two? Or how about not making such risky loans if the default rate is so high?

I personally like the idea from the school where you get a free education after promising to pay a percentage of your future income for X number of years thus the price of college is dependent on it's value.