Student loan rates must remain manageable

  • Article by: Keith Ellison
  • Updated: May 25, 2013 - 10:26 AM

Let’s not default on the American Dream.

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unionbossmanMay. 24, 13 6:50 PM

Student loan rates should not be suppressed at taxpayer's expense.

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jjsbrwMay. 24, 13 6:56 PM

One of the problems students have is that they want the full college "experience" even though all the perks, creature comforts, and even luxuries make that experience very expensive. Tuition is very expensive, of course, but add in a smartphone plan, cable, internet access, premium meal plans, study abroad semesters, and spring trips and suddenly those school years are much more costly than they need to be.

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pumiceMay. 24, 13 7:05 PM

"Ultimately it is a question of what kind of nation we want--of whether every child and young adult should have access to education from pre-K through postsecondary. Rep. John Kline, by introducing a Bill which "would replace a current fixed student loan interest rate of 3.4 percent with a rate that could go as high as 10.5 percent" showed that residents of the 2nd CD have no right to point fingers at residents of the 6th CD.

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jchilman12May. 24, 13 9:05 PM

If the student loans are only for state, public universities O.K. If you expect the taxpayers to supplement loans for private schools? Forget it.

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supervon2May. 24, 13 9:28 PM

Think of it this way. You want to make living with a truck. You pay 250K for a rig and use it to make a living plus you pay it off. Same with farmers and business people. So, 30K to start earning a living and paying it back is not a big deal. It's part of the investment in your future. You bought it-you pay for it.

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gambrinusMay. 24, 1310:20 PM

Kieth Ellison is wrong in so many ways. The federal government has no delegated power allowing it to participate in student loan programs. Since Obama nationalized the student loan industry, student loans have been so mishandled that student debt now equals $1T. Kieth Ellison, of course, wants to dump more money into this hole. Rep. Ellison is unable to grasp the supply/demand link between federal subsidization and increasing college costs. Students used to have a lot of entry level job possibilities with which to pay for a substantial portion of their education. Mr. Ellison has seen to it that Illegal aliens occupy these jobs so instead of earning money and learning how to work, American students play computer games and beg for federal help. Rep. Ellison also votes for higher taxes so working class kids who never intended to go to college can pay for their college educated bosses' educations.

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dave9398May. 24, 1310:29 PM

"Ultimately, it is a question of what kind of nation we want. Do we want a nation that values education, or corporate profits? " --- where do you think the tax dollars that keep you employed come from Mr. Ellison?

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kilofoxMay. 24, 1311:17 PM

Why not give students free tuition and just tax the rich. Sounds like a winner. The rich it seems can afford to pay for everything. They don't need any money.

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trk22079May. 24, 1311:49 PM

I agree with most of these posts... that Ellison is still living in the fantasy that we owe every citizen everything, cradle to grave. And of course, it is expected that these "citizens" will want to keep putting people in power who will keep giving them the free stuff. The phrase "you didn't make that, someone else did" is a way of saying that we all owe everything we accomplish to that "someone else." And, of course, by not paying anything for anything, the citizen sees the value of everything as nothing.

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fatredneckMay. 25, 13 2:10 AM

For the vast majority of employers a college degree is simply a way to screen out most of their job applicants. For the vast majority of college graduates the principal value of a college education is the degree itself, not the knowledge obtained in the classroom. The root problem is not the interest rate that is paid on the loans, but the incredibly high cost of getting a piece of paper that says "college graduate." The content of a college education needs to be rethought and streamlined. The "halls of ivy" are an archaic and inefficient way to provide employers with a screening mechanism for new hires. We need to find a way to implement online learning, and get rid of the need for expensive continuous classroom interaction between professors and students. Such a way will certainly evolve - the present costly system of college education is doomed to extinction. The current debate about interest rates on student loans equates to rearranging the deck chairs on the sinking Titanic.

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