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Loanly students
Raising interest rates for student loans will increase financial burden
By: Daniel Abasolo
Issue date: 7/3/06 Section: Opinion
The economy, which President Bush was so proud of, is also greatly affected by the growing debt burden being placed on students. This nation provides higher education to a greater percentage of its students than any other nation. Students have to go to school in order to have any hope of being competitive in the future. With such a large percentage of our high school students going to college, the future holds serious trouble for our economy if our workforce starts with $19,000 or more in debt. Graduates could have to delay buying a house or car, as well as tighten spending and postpone starting a family.
The government's new interest rates will only make matters worse. The students who need to borrow to go to college are more likely to be poor or middle class, and the Deficit Reduction Act is putting a college education further out of their reach. This act will add thousands of dollars in debt to students who are supposed to be the future of our economy. This act is bad for students and awful for the United States.
The government's new interest rates will only make matters worse. The students who need to borrow to go to college are more likely to be poor or middle class, and the Deficit Reduction Act is putting a college education further out of their reach. This act will add thousands of dollars in debt to students who are supposed to be the future of our economy. This act is bad for students and awful for the United States.
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