Student loan rates double without Congress' action

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  • Mark B Eureka, CA
    July 2, 2013 11:55 a.m.

    Nothing wrong with sensible financial advice, but it isn't much help to those depending on a lower rate to become educated, TAX-PAYING members of society. Where was Mr. Speaker when he was needed? And where in the Constitution does it allow feds to begin a war without any declaration?

  • worf Mcallen, TX
    July 1, 2013 5:41 p.m.

    Obama just pledged seven billion to African. Would be great taking advice from 'DN Subscriber 2'.

  • DN Subscriber 2 SLC, UT
    July 1, 2013 4:25 p.m.

    Good financial advice follows:

    a. Don't borrow money.
    b. Get one or more jobs and PAY your way though school
    c. Don't go to college unless it will really help you, not just to party and waste time before going into the real world.
    d. If you do borrow, borrow as little as possible, and pay it back as soon as possible.

    Really, 6.8% on an unsecured loan is not a bad rate at all. Congress should stop borrowing money from China to loan to college kids at rates that do not cover the costs. Especially since we are $17 trillion in debt.

    Please, Congress, do NOTHING and let the rates stay at 6.8%.

    Finally, where in the Constitution does it allow the feds to spend money on college loans?