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The www.FedPrimeRate.com Personal Finance Blog and Magazine

Tuesday, July 26, 2005

House Committee Votes to Make Student Loan Consolidation More Expensive

The US House Education Committee has voted to raise the interest rate on fixed rate student loan consolidation. The committee's explanation for the rate hike was that it would help to decrease the national debt.

Hmmm...Something doesn't smell right to me. The House Education Committee expects me to believe that making it even more difficult for college grads to payoff their student loan debt is worth the resultant miniscule savings for the national economy? I don't think so!

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Anonymous Zack said...

I wonder if they have figures to back this claim up. I can't imagine that raising up the interest a couple of percent could even cause a speck in the national debt.

Monday, November 28, 2005 11:22:00 AM  

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