Many of us will be going in to college after we
graduate next Spring. It involves us
getting student loans in the thousands of dollars. There is a bill going through Congress that
will double the student loan interest rate. Right now, there are not enough
jobs to support many of the students who are graduating from college and it
will be even worse if the interest rates double if the bill gets past.
Eager to
energize young voters, President Barack Obama is depicting Republicans as
obstacles to an affordable college education as he previews an argument he will
make on university campuses next week in states crucial to his re-election.
“This is a
question of values,” Obama said in his weekly radio and Internet address
Saturday. “We cannot let America become a country where a shrinking number of
people do really well while a growing number of people struggle to get by.”
Education Secretary
Arne Duncan said Friday that more than 7 million students would be financially
squeezed if rates were to rise, to the cost of an additional $1,000 on average.
Obama wants
Congress to extend a law that cut interest rates on a popular federal loan
program for low- and middle-income undergraduates. If the law expires, the
rates will double on July 1, from 3.4 percent to 6.8 percent.
Republican
Presidential Candidate Mitt Romney also agrees with Obama on the Student Loan
Bill which is very unusual.
“ I fully
support the effort to extend the low interest rate on student loans,” Romney
said at the end of a seven-minute joint news conference with Rubio.
There was
some concern that that would expire halfway through the year, and I support
extending the temporary relief on interest rates for students as a result of
student loans, obviously, in part because of the extraordinarily poor
conditions in the job market.”
The National Defense Education Act (NDEA), signed into law on
September 2, 1958, provided funding to United States education institutions at
all levels.[1] The act
authorized funding for four years, increasing funding per year: for example,
funding increased on eight program titles from 183 million dollars in 1959 to
222 million in 1960.[2] While motivated
by the increase in the number of students attending college and a growing
national sense that U.S. scientists were falling behind scientists in the Soviet Union, it was
arguably catalyzed by early Soviet success in the Space Race, notably the
launch of the first-ever satellite, Sputnik, the year before.
Helps give money to kids going to
college because of the fear of the Russians surpassing us in the education
field, especially in the sciences.
http://www.csmonitor.com/USA/DC-Decoder/2012/0423/Student-loans-Obama-s-bid-to-rekindle-Yes-We-Can-among-youths
question: It is very unusual for Obama and and Romney to be on the same page, do you agree with them in whether interest rates should not be doubled, or do you think they should? Explain.
Yes, it is very unusual that Obama and Mitt Romney have the same viewpoint on this situation. Generally, Democrats and Republicans have opposing view points which is why this is unusual. I agree with both Romney and Barack that interest rates should not be doubled. I think that if interest rates are doubled, that will decrease the amount of people receiving a high level education because they can't afford paying student loans. I think it's extremely drastic to double the student loan interest rates from 3.4% to 6.8%. I believe that an affordable college education should be available to citizens in order to have less people "struggle to get by."
ReplyDeleteI agree with Cassandra that it’s very strange that both Obama and Romney are on the same page about keeping the student loan interest rates as they are. Usually democrats and republicans don’t have the same viewpoint on similar matters so it’s very interesting to see that they both agree on something like this. The economy is struggling enough to get back to the way it was and doubling student interest rates wouldn’t be helping it at all. The cost of colleges and universities has increased over the past few years and students have no other option but to take out loans to pay the necessary costs for tuition and boarding. Doubling interest rates would make it harder for students to make a living on their own after graduating and if they weren’t able to get into a career during their years at college, then they’ll have a harder time paying back student loans. I definitely disagree with this bill getting passed and that students getting out of college should be given a certain amount of years before interest rates on their student loans increase.
ReplyDeleteI don't think that it's unusual at all for them to agree on this because it's ridiculous to make kids pay back more money then they need too. They should agree on keeping the interest rate low, just like everyone should agree on that too. Obviously they shouldn't be doubled because a higher education is already way to expensive to begin with. You're basically payer for a certificate that says "oh hey you can go get a job now" and then you just have to work up the ladder again at that job. But since that certificate is pretty much the only thing hire people for, it's the only way to do so. So since college is already super expensive, and people have to take out so many loans just in order to pay for their education, the interest rate should stay as low as possible because it's just going to lead to people who can't pay back their loans and then get into a whole big web of financial drama. It would be a huge economic disaster from my point of view.
ReplyDeleteI find it quite unusual that they agree simply because democratic and republican viewpoints are often much different. Also, reducing student loans might increase the taxes which is something Republicans dont agree with either. Furthermore, I am not entirely sure if you could call this unexpected because Romney also passed an affordable health care law for Massachusetts which is very against republican views. Furthermore, I believe that these interest rates should definetly not be doubled because people need to pay for college and if people stop going to college, less people would gain jobs which could lead to economic turmoil. Since college is already really expensive, these two candidates should do everything in their power to reduce costs because most people already take a long time to pay off loans.
ReplyDeleteI think it is unusual for the democrat and republican to agree on something because years after years they have their own views for all the same topics but thinking as an American citizen I do not think it is anything unusual. Student loans should not be doubled if people can barely pay them back over their years after college now imagine how much longer it can take if they are doubled. I think more kids will be discouraged to go to college because they will fear more about the money going into it. Parents of college students might not support them as much as they possibly can because they also will not have enough money to support their kid as much as they would like too. The children will not be going to the school they really want too for financial reasons which is not fair to them at all. College is a scary thing and raising the students loans will only make it a scarier place for new college students.
ReplyDeleteLike every one else, I am very surprised that Obama and Romney are on the same page for this issue. It's very unusual that a Democrat and a Republican would agree on an important issue. Student loan interest rates should not double because it only hinders our educational system. If you double the rates, it might deter students from wanting to go to college because they cant afford it. If we want every kid to get a college education than why are we making it harder on them to do so. In the long run this wont help our economy at all. More people are going to be in debt and will spend money less. If people aren't spending money than our economy will fail. College is already expensive as it is and to increase that cost even more is just wrong.
ReplyDeleteI, too, agree with how it is different for a republican and a democrat to be on the same page for once. Normally, they have different views that would be completely the opposite. In this case, it would be thought upon that interest rates doubling would be favored by either of the two parties, not normally both denying it and on the same page about it. Both Obama and Romney agree that interest rates should remain as they are. The bill that is being processed through Congress should instead of letting the previous bill go about its expiration, which previously made the interest rates stay at its current low, they should make a similar bill which as Obama and Romney both agreed on which should then keep the interest rates for student loans at its current loan, and then after a certain amount of years after the students graduate from college the interest rates could then increase. So, I agree that interest rates should stay low and then increase after a certain amount of years after college and entering workforce, where they then have the income to be able to start paying off student loans.
ReplyDeleteI believe that yes it is very strange to see two people in opposing political parties agreeing with one another. The normal thing would be for the opposite party to disagree with the opposing side no matter what. This is strange to see. Yes i do agree that the interest rate should not be doubled because if they were getting and paying for an education would become very difficult. Many people just would not be able to afford it. This would cause a whole wave of people who could not get good jobs because they did not have a collage degree.
ReplyDeleteThe answer seems rather obvious and it is no. If the rates for college rise then higher education for graduates out of high school will be even harder to achieve. It is already expensive enough to get through college but for the rates to doubles will make it impossible for some families even with a financial aid package. The debt for students would be enormous and it would discourage people from wanting to attend college. It is no matter that both Obama and Romney are on the same page, neither of them can afford to have an uneducated youth for the future of America. In the competitive world market America would be at a massive disadvantage if they had less highly educated people. We would lose our seat of power in the world today if we aloud ourselves to be outdone by countries like China or Russia for example. The doubling rates must be put to a stop as soon as possible.
ReplyDeleteI think it is very unusual the Mitt Romney and Obama do have the same viewpoint on the situation. Generally speaking, democrats and republicans have opposing views on most topics. I do agree that the interest rate should not be doubled because then paying for school would become very difficulty and many people may not be able to afford school. Doubling the intrest rates would then lead a large amount of people not attending school which then leads to them not getting a good job.
ReplyDeleteNormally, I would say that it is weird that Obama And Mitt Romney are agreeing on the same topic because one is a democrat and the other is a republican. This case is different because it seems a little outrages. Colleges want people to go to their school, but if the interest rates get doubled, than people would not have the money to go. Both Obama and Mitt Romney see that this is outrageous and are both against it. I completely agree with them that the interest loans should not be doubled.
ReplyDeleteI think it is unusual for a democrat and a republican to agree on anything. However, I agree with Vinny because it is outrageous for college interest rates to double. In a time where we are trying to outcompete other countries and encourage more students to go to college, it is outrageous that Congress wants to double the interest rates. If there are higher interest rates, then less people can afford to go to college. If they disagreed on this topic I would be surprised and question their views. I agree with both of them that doubling the college interest rates is outrageous.
ReplyDeleteYes it feels unusual that President Obama and Mitt Romney have the same view point on a subject but it is not out of the ordinary. Clearly they both want getting a better education cheaper in order to help our country as a whole to become better educated and to compete with other countries. I agree with both of them, political parties aside they understand that college as it is, is expensive so why make it more. Is this actually that hard to believe that just because one is a democrat and the other is a republican, that they can have the same opinion?
ReplyDeleteI agree with the previous posts, in the idea that if interest rates on college loans people are going to be in a tougher financial position and could potentially not receive the higher education they may desire. It would promote the wealthy people from getting wealthier because they will be the ones who can afford a higher education and get better jobs. I think that it would discourage minorities who may even have trouble paying interest rates now from trying to make something of themselves. I think that this won't happen because the two front line candidates for the 2012 presidential election are both in agreement, which as said before is unique since Obama is a Democrat and Romney is a Republican.
ReplyDeleteI am not sure if it is unusual for Romney and Obama to have the same view point. I do know either of their economic platform so it is hard to tell. I do agree that it is vital that interest rates stay low for student loans. The last thing we need to do is make it harder for students because they are the future of our economy. If it gets to a point where the average collage graduate is unable to "make it" in the work force, then our economy and advances in society will come to a halt.
ReplyDeleteI think that it is very unusual for the two to be on the same side, only because of the way the two usually see thing because they are on opposite sides of government. I however agree with the two. Interest Rates for college loans should not be increased. College is already a major expense in most Americans, and is hard enough to pay off afterwards. If the interest rates went up, then it would be quicker to pay of off, but it would be higher payments more often, and hard for most Americans to pay off.
ReplyDeleteI had talked ms.vivirito, how it wouldnt let me post last week, but im using chrome now so it should work!
like many of my classmates have said, i think its not that surprising that two representatives from two completely different parties agree on an issue. There are many issues that our world represents and agreeing on one of them seems like a likely possibility even though they are from two different parties. I agree though that the idea that if interest rates on college loans issue. It would prevent the wealthier from getting wealthier, and create more opportunity for the middle and lower classes. I think this issue ion its passing is based on the congress and the president elected in November of 2012. I wish i does but i think it wont.
ReplyDeleteLate because was dismissed and unaware of blog.
DeleteTalked to Mrs. Vivirito about the issue.