Sunday, October 30, 2011

Student Loans in America
This article summarizes the problem with student loan debt in America today.  The amount of student loan debt is growing at an all-time high and repayment is becoming tougher than ever for students.

I don't think that any type of debt is good, especially if it is not manageable. I think the problem today is that many graduates are unable to find work with a good salary to repay back this debt.  Also, a high amount of this debt is incurred by college dropouts. It's obvious that most of them have probably not bettered their situation.  Personally, I feel the student loan interest rates are out of control.  I can finance a car for less than half the rate and finance a house for almost half the rate as well.  Also, why can't the government pay our interest while we are in school?  I would think that would be a huge help.  In addition, I think the payment cap that has been put in to place will help lower monthly payments for those repaying, but I feel that if the interest rates were also dropped, then this debt would not feel like a never-ending curse.

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