I don't know why the government cannot offer these student loans at a modest 2 or 3% instead of the 5-6%. The private sector gouges them even worse. These students are our countries future after all.
Some thoughts about student loans:
1. The government does not pay for these student loans...the taxpayers do.
2. The only reason the private sector can "gouge" them is BECAUSE of taxpayer-funded loans. These schools know that if a student wants to attend said school said student can get a taxpayer-funded loan to do so. So there is no incentive on the part of the schools to lower tuition. In other words...there is no real competition between the schools to lower their rates to attract more students.
3. I agree that students are our future. With that said...many (most?) Democrats say college should be free (well free in their minds...it will still have to be paid for by the taxpayer...but that's a different topic). Anyway...I have ABSOLUTELY no problem with providing a FREE (still taxpayer-funded though) college education for fields of study that give something back to the society which paid for it. Fields of study such as medicine, math, engineering, technology, science among others. On the other hand...I will NEVER agree with providing taxpayer-funded tuition for worthless (to society) degrees. If somebody wants to get a Bachelor of Arts degree in Central American, Transgendered Studies then more power to them. But do it with your money.
