WASHINGTON, DC—In this week’s address, President Obama called on Congress to act before student loan interest rates double for more than 7.4 million students, adding an average of $1000 to their debt. Having a college education has never been more important, but it’s also never been more expensive. While the Obama administration has taken historic steps to provide Americans with a fair shot at an affordable college education, Republicans in Congress have instead prioritized huge new tax cuts for millionaires and billionaires. Congress has a chance to take action on what should be an area of bipartisan agreement to prevent this unnecessary and damaging increase in interest rates and give our young people a chance to succeed in the jobs of today and tomorrow.
3 comments:
What a crock of smoke and mirrors. You tell me what 4-yr college can you go to for 25,000.00besides a community college? You brag about a job that pays how much? $30,000. What about the students going to colleges that are 25,000.00 to 60,000.00 a year who want good paying jobs? Talk about the truth, these students are graduating with over $100,000.00 in debt not 25,000. Most of these loans are at 7%. Talk to truth Mr. Presidnet about the College Tuitions and actual amounts of all the combined loans these students have. Of course you are only going to community colleges where the tutions are much less expensive. What about the more expensive colleges throughout the country, what are their costs Mr President? As far as companies and the tax credits, yes they need tax credits so they can hire the students coming out of these colleges with debt well over your extremely low 25,000.00 debt figure. You are speaking to a select few Mr. President.
How about looking into why college tuitions are so high and out of control. What about the cost of a 6 year degree. You are out of touch with the reality of the College expense and loan debt. You should educate yourself on true costs of College tuitions. We need companies to hire the graduates and provide high paying salaries, so as many tax cuts they can get to remain in the USA and NJ, the better.
College is a business and they are in it to make a profit.
Obama stated $25k is an average and many people owe more than that.
Romney supports keeping the interest rate down as well.
Now how do we pay for it?
Of course everyone is in favor of lower interest rates, but the issues of college costs is being ignored. Both anonymous posts above are correct, now how do they pay for it? The cost would not be an issue if the salaries justified the costs. I know Doctors who have over 300,000.00 in debt upon graduating. Now ObamaCare and Insurance costs will make many question the value of the degree.
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