In response to:

Student loan rates double without Congress' action

HomeschoolEducator Wrote: Jul 02, 2013 8:52 AM
I'm not so sure that this is a bad thing. The potential for students to either (1) pay back their loans quicker or (2) choose to not go to college - and thus not end up graduating with a degree that is utterly useful for anything other than shouting liberal talking points - outweighs this "bubble" that some think will burst. Economically speaking, this is something that needs to happen in order to correct the same cost issues that were happening with the housing market (that, not coincidentally also started under the policies of the Clinton administration). Debt free college can be done if you are smart and don't rely on the information that government institutions hand out.

WASHINGTON (AP) — College students' interest rates are at the mercy of Congress.

The interest rates on subsidized Stafford loans doubled from 3.4 percent Monday and could stay doubled unless Congress fulfills its pledge to restore lower rates when it returns from the Fourth of July holiday.

Lawmakers from both parties, as well as the White House, vowed to lower that rate before students started signing loan documents this fall. But the rate now stands at 6.8 percent — higher than most loans available from private lenders.

"In the grand scheme of all the loans that I already have, I suppose it's not out...