The federal government posted a $41.3 billion profit on student loans last fiscal year, while student debt soared past $1 trillion.
President Obama has gone on a college-affordability blitz over the last week, preaching to choirs of students that his new proposals will make college cheaper and easier to pay for.
President Obama shares his education reform proposals with students at the University at Buffalo.
Michelle Obama connected with voters during her moving opening night speech of the Democratic National Convention on Tuesday. She was smart, extremely likable and the perfect spokeswoman for the American president as she talked about "the unflinching sacrifice" her parents and husband's family made so their kids could have the "chance to go places they had never imagined for themselves."
Is President Obama right about a looming student loan debt crisis? It depends on how you define “crisis.” But there is a problem, and it is real.
For many members of the Millennial Generation, now is the time when they begin to ponder major life choices, including their first home purchase. However, the heavy increase of student debt this generation carries may prevent many from buying a home, even at low prices.
It is something of a truism that whenever the federal government steps in, costs usually rise and efficiency declines. That is especially true when it comes to a college education, which President Obama promised during the 2008 campaign to make more affordable.
This week, President Barack Obama has been warning students that without his intervention, interest rates for a federal student loan program will double to 6.8 percent July 1.
Sarah Palin was the first to recognize the problem: By participating in President Obama's signature education initiative, the Common Core Standards, Alaska would lose control over its own curriculum.
I took out a student loan myself. The only reason I did it was at the time I was able to borrow from the government at 3%, and reinvest it in short term rates at 19%. It was a no brainer. I doubled my money. The government eliminated that loophole in the 1980's. Smart move.
Speaking at UNC.
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