RAISE Student Loan Rates!

Posted: Friday, April 3rd, 2015

            Congressman Ron Kind has been pushing for the government to lower the interest rates of government-backed student loans. One of his arguments is that it is unfair that large, corporate, Wall Street types are getting lower interest rates on their loans than the future of our country (assuming that college students are the future). I argue the opposite. Raise student loan rates.

   First of all, Wall Street executives get lower rates because they pay back their loans, as opposed to former students who are increasingly not paying back their loans. And those who struggle with them are sympathized with by powerful people in government. Higher risk should equal higher rates.

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