Update on student loans
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The House has approved the largest overhaul to the college financial aid system since it was created in the 1960s Thursday. However, those changes would be too late for many Texas as new numbers show Texas has the second highest default rate in the nation for student loans.
February 3rd, 2010 at 12:42 pm
The idea of paying on a student loan for 20-30 years is horrible, no matter how you slice it, even with limited payments. You will probably be sick of your career by the time you are 45 and want to try something else. Or you may be fired and replaced by someone younger. The definition of “old” is getting lower every year.
February 3rd, 2010 at 1:03 pm
How does this help people like me? I am a special education teacher and I owe about 90 grand. A huge amount is interest as I have deferred so many times and my debt continues to grow.
If Obama can issue out over 10 billion $ to bail out crooks, why cant he help those of us who needed loans to further our education so we can serve our country as productive citizens…
bail us out President Obama.
February 3rd, 2010 at 1:28 pm
Direct Loan Policies are the real issues here. The system sets up the graduate with stipulation that they will start churning out cash the next day. Thats not the case so they amended the policies which enables the Department of Education to circumvent due process in order to collect on defaulted student loans. Its no risk lending on their part. They are guaranteed a return on investment AND indentured servitude for life.