DISQUS

Consumerism Commentary: Congress Raises Student Loan Interest Rates

  • jim · 4 years ago
    I was under the impression the interest rates were going to be raised anyway.
  • Flexo · 4 years ago
    That would make sense -- but this was the first I've heard of the specific rates.
  • Matt Hartrich - Buffalo, NY · 4 years ago
    Consolidate your student loan rates now!
  • Retireat30 · 4 years ago
    This is a yet another great example of how america is going to lose our competitive edge in the years to come.

    We go to war - short term boost to economy, no fundamental boost to national productivity.

    War + net tax cuts causes budget shortage.

    Budget shortage aliveated by cutting funding to education, the small business administration, etc.

    China continues graduating more engineers than us.

    China becomes dominant economy, USA now an also ran in history. I don't like this one little bit.
  • Flexo · 4 years ago
    Retire, I agree. It doesn't bode well for the United States in the first half of the 21st century. Perhaps 2006 will be the year I learn to speak Mandarin (but I doubt it).
  • guyincognito · 4 years ago
    Most lenders will now allow you to consolidate early, before the new interest rates go into effect. In this way you can lock in your rate before the new rates kick in.
  • Flexo · 4 years ago
    As I found out this year, if a loan is still being disbursed, it is ineligible for consolidation.
  • jim · 4 years ago
    The lack of engineers is not the fault of the US government, it's the fault of US companies and a child of the capitalist society we live in. Interest rates on loans of practically all kinds are at historic lows these last few years and the last few years is where we've seen the major slowdown in graduating engineers, so it's not the loans.
  • FMF · 4 years ago
    No matter the increased cost, your advanced degree (if selected correctly) will still be well worth it because of the increased earning power it will generate.