Student loans going up to 8.5%.. CNN

[SoCalDem]

Sad... just plain sad..

many articles here

[bluethruandthru]

1. But didn't shrub, on his trip to India, just say

that Americans shouldn't be upset about all the jobs going to India and other countries...instead Americans should focus on educating themselves!!

[liberal N proud]

2. SHIT!

Damn them all to hell, Trying to do everything to make sure my kids get a jump start on these assholes and they just keep knocking the blocks out from under us.

I will have to pay it even if I go broke and lose everything, because my kids are going to get a break.

[SoCalDem]

3. In ONE generation it's become almost impossible

When I was in college, a kid could earn enough during the summer to PAY for next years' expenses (along with a piddly part-time job during the school year)..

AND you could actually get the classes you needed and could graduate in 3-4 years.. Now it;s taking kids 5-6 yrs and graduating with 20K & more of debt.. all to end up with their old after school jobs at home or an entry-level job that might pay less than they need to pay the loans & have a life..:(

A kid my son knows, graduated and ended up working in a place where a high school friend worked..the friend went there out of HS, and now has 4 yr's seniority on his college-graduate buddy...and their wages are not that far apart.,

In the long run the college guy probably will end up making more, but the fact is that HE has a big ole loan payment to make and drives him Mom's old car, while the HS buddy is married, with a kid and has his own place..

[liberal N proud]

6. That is why I feel compelled to do what ever it takes to help our kids

They are going to need anything they can get to keep from being dirt poor in the new bu$h Amerika.
They may need something that can help them escape this mess.

When I was in college in the 70's, I was able to work a summer job in a meat processing plant, 3 months pay would pay the tuition and all living expense for the coming school year. Enough that other kids though I was well off. I was able to do that until Reagun became president and started busting unions, the plant I worked was one of the first to fall under Reaguns policies.
I had to take out loans for the last 2 of 5 years. I also payed those loans off when I finally got a job. That took 3 years from graduation because Reaguns trickle down economics worked so well.

I guess I will borrow what ever it takes sell my home and what ever to make sure my kids can hopefully have a decent life.

[Skidmore]

11. Well they sure hit on an a handy-dandy way of culling out

huge numbers of college-educated kids from the labor market, didn't they? Now we will have a labor market only able to fill retail and foodservice jobs, because the hi-tech stuff is going overseas too.

[Horse with no Name]

13. One of our brightest kids from our town

went off to college on scholarship and ended up failing (those late night parties did him in) so he came home in order to save up enough money to go back to school.
He got a job at Sonic. Ended up being manager and now if you ask him, there isn't any way in hell he is going back to school.
He knows that with a degree (he was going to be a school teacher)he couldn't make as much as he is making now.

[Captain Hilts]

4. So much for making education more accessible. nt

[MissB]

5. Wow. It was under 4% just a few years ago.

[Tracer]

7. Will this affect ...

... graduates who have already cosolidated and locked in a rate?

[MissB]

8. It shouldn't. Locked = cannot change for the term of the loan.

Which is why I'm glad I locked when it was hovering in the low 3% range.

[SoCalDem]

9. No

just new loans or loans that are not locked in at a rate

[Marr]

10. Didn't they also cut funding for student loans recently?

Or was it that they didn't keep pace with the demand...?

[Tesha]

12. (That's why the rates are going up -- less subsidy!) (NT)

[tatertop]

14. I got through college by working summers only

This is all fucked up.