Student Loan Roundup: House Votes to Extend Low Rates on Federal Student Loans

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As the week winds down, I felt the need to comment on the House voting to extend low interest rates for federally-backed student loans and compile a few snippets. Look, this is great. I’m glad that somebody is trying to help the people out there struggling with their loans and who will struggle once they graduate. But, we all know this bill isn’t getting passed. It’s just more of the same from Washington’s “wizards” — all talk and no substance. This bill is DOA on President Obama’s desk and it will be old news by Monday.

With that said, check out this article from Talking Points Memo, titledClub For Growth To GOP: Let Student’s Interest Rates Spike.” TPM points out in this short article that this thing is just a battle over Obamacare and Medicare. They’re not trying to help students really. It’s just politicians needing votes for this year’s election.

Don’t buy into it, Gen Y. Don’t let D.C. use us as pawns in their game. Student loan debt is a real issue. It should be treated as such — not a political football to be tossed around. These are people’s LIVES we’re talking about here.

Club For Growth has a good point too — student loans should be anything but backed by the federal government. Why do you think tuition rates are so high to begin with? I’ll let you think about that one for now.

A few other articles to check out —

From Forbes, “Smashing My Student Loan Shame: The Radical Case Against Debt Relief

From Wash Post, “Revolt on the right over student loans?

From ZeroHedge, “Jim Quinn Explains Why We’ve Never Left The Recession

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