Of course the interest rate increases won't stop students from taking out students loans because we obviously need the money, but it could strain students more after graduation when they have a more difficult time paying off loans with higher interest rate. As a student I don't want this to affect me after college, I don't want to be in a big debt while I am barely trying to start my career. There is more debt from students loans then credit cards and auto debts. Shocking right?
Also did you know Federal Government make a profit on our students loans? They make 36 cents on every student loan dollar it puts out. It might seem like nothing, but just think about all the loans us students get, trust me those 36 cents add up to so much money. This is not fair, federal Government shouldn't profit from our own education. The loans should be use to make education affordable, not profit from them. The Government making money from our education doesn't seem fair at all. The cost of college is rising up and it discourage people from going, we don't want that. We want people to go to college with out worrying about having a debt after they finish school.
A college education is always an expensive proposition. Especially if you have to borrow money to make it a reality and everyone agrees that is important, so the Government needs to do something about the interest rate on students loans, it needs to stop raising up. Government needs to make a better plan in student loans and stop taking money away from us. America needs educated people, lets stop scaring people away from trying to go to college. Lets help them out instead.
4 comments:
I am commenting on U.S Events "Education Equals Money". Maria argued that the government shouldn't be making a profit off college students loans and the interest rates should stop rising. I agree, College isn't cheap so many struggle to pay their way through leaving them slumped in debt after years of school. And as you said we are the future of this country so college should be a more inviting experience.
There is not much criticism I can do here because everything you said is true. Government is once again doing a fine job at taking care of small problems, but terrible with the biggest most important ones. I can tell you wrote this with some emotion because this something that can hurt a lot of us in the end. you made a good argument because its something that thousands of students would agree with.
Fernanda states in "Education Equals Money" the struggles and unfairness the student loans is put upon the college student. She makes a very convincing argument and because of it I am 100% on her side. I am also a student who is struggling to pay for my education, to the point where I have nothing left in my wallet after my monthly payment. The fact that many can relate to this issue helps gain an audience who will agree with every word in the editorial.
To hear that the government profits of the loans of students is enraging and leaves a bad taste in the people's mouth. It feels like we're getting punished for wanting an education by getting us involved in a vicious cycle of expensive tuition and high interest loan rates. Fernanda's arguments is right on cue about all the issues involved in this. She talks about the 6.8% interest rates, how the government receives 63 cents for each students taking a student loan, the debt that takes decades to relieve oneself from, and how on top of it all, we the students, seem to be the only group to not benefit from the situation. The argument is filled with a lot of emotion which actually helps the argument that the student suffers from student loans. The fact that many in today's society are affected by debt, especially because of student loans, will prove the point that student loan interest rates are a huge issue. An issue that desperately needs to be fixed for the future of the country.
Maria Fernanda, a colleague of mine, addresses the issue of student loans in her blog U.S. Events. Maria is exclaiming that the government should “make a better plan in student loans” and “do something about the [increasing] interest rate on students loans.”
Let me start off by saying I 100% agree with her argument being made. Why? Because I am her targeted audience and what she is saying applies to my life as well. I had no idea tuitions were rising again on July 1st, nor did I know that the federal government profits from student loans, although; that doesn’t surprise me that they have their hands in the student loans. Maria is completely right that the increase in tuition rates and interest rates are outrageous. All that will do is: add more numbers to the category of those who can’t afford to pay off their student loans after college, and scare more people away from college.
The only thing I would add to her argument is the use of links to sites with data about student loans, tuition rates, and government profits from student loans. This way her facts don’t seem as if they are just coming from the air, it also establishes more credibility. Other than that, there are no further revisions needed. All of her targeted audience, college students, will agree that these increased rates and tuitions are hurting us. America can’t preach and stress enough of how valuable education is to our country. Yet, we continue to raise tuition prices and interest rates? Yeah, that makes sense.
I have decided to use Maria's post about the government profiting off student loans as the post to analyze. She brings up numerous points that I am in agreement with, such as the rising interest rates on student loans, the increasingly heavy debts students face, and the idea that the federal government shouldn't profit off students. However, while I favor Maria's opinion, I can see the other side of it too.
With the nation trillions of dollars in debt, one can expect the government to look for revenue in any areas that they can find. Charging interest on student loans is a quick way to bring in much needed money, whether it be in the best interest of our society or not. Also, I do believe that schools are inviting towards students. With all the ads and commercials on television and in newspapers these days, colleges are practically begging students to attend their campus. Plus, almost all colleges offer grants or scholarships of some kind, with some even offering full funding for a potential student. While scholarships are based on grades athletic merits, or any other form of achievement, many students still have the opportunity earn this "free money" through hard work. Also, many students choose to attend colleges knowing that they will be forced to apply for loan(s). A simply solution to avoiding loans is to simply narrow your field of colleges to those that fit your budget.
I feel that with the economy the way it is that the government is basically tempted to raise interest on student loans, but they aren't entirely at fault for student debts. If one was to responsibly manage their financial accounts and overstep their financial bounds by attending a modest school, debts really won't be as big of a deal.
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