Posts Tagged ‘interest

21
Jun
12

President Obama on Student Loan Interest Rates

12
Jul
11

good grief (again)

Think Progress: One of the major demands that almost all congressional Republicans have made about deficit reduction is that wealthier Americans and large corporations shouldn’t have to pay any more in taxes….

…but one group that Eric Cantor is apparently fine with making pay more is American college students. Cantor, at the White House for budget negotiations, apparently proposed that students who take out student loans should immediately start paying interest, rather than getting to make payments after graduation….

Obama rejected Cantor’s proposal out of hand, saying that he didn’t want to “screw students”. Cantor’s proposal comes at a time when American students are already overwhelmed by student loan debt. In 2008, the average debt that a college student graduated with was a whopping $23,000. American students continue to pay more than most of their developed world neighbors for a college education, and Cantor apparently wants to make it even more difficult for them while not touching the richest Americans.

More here

Cantor, whose father owned a real estate firm and was the state treasurer for Ronald Reagan’s 1980 presidential campaign, attended an elite private school as a child …. and went on to study at George Washington University, William & Mary Law School and Columbia University.

I’d guess student loans weren’t an issue for young Eric.




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