How will the new student loan interest rate impact you?

Community college costs like a thousand dollars a semester not to much to pay off at 10 dollars an hour. If they are truly poor they will qualify for pell grant money and subsidized stafford loans(no interest). So it doesn't affect them.

Okay, you win. However, what about the kids that are going to a community college, that is on the lower end of tution costs, and they still can't afford it because of some economic harship. Is it fair to them?

You would think. But the middle class kids who go to Harvard which they can't afford instead of Rutgers which they could are going to take out the loan neccesary regardless of the rate. Students who need the loans if they want to go to a college outside their parents means are going to do it no matter what.
I don't think these students are going to opt out of attending college. No matter how you look at it it is positive for the economy. The only thing you could spin is that they are loan sharking the "vulneralble students". But I'd like to see you walk around calling Sallie Mae a loan shark.

That could be, but the economy benifits when people take out loans, right? If that is the case, when interest rates on loans go up, one would tend to think that the amount of people take out loans would decrease. In that case, wouldn't the economy suffer, at least in some way?

quote:

Student loans have different interest rates that for example a home loan

So what. The interest still goes to a company with publicly traded stock. I'm not talking savings interset rates. I'm talking about higher consumer spending which benefits the economy.

That is a good point. But aren't the interest rates for loans, and savings different? I don't know, but I don't believe that they are not the same. Student loans have different interest rates that for example a home loan, for example. I don't know, am I correct about this?

Why are you starting all these new threads? you haven't even made any/many posts. You sound like an adult trying to suck propogandizable info off of us. But to answer your question, I don't have or need loans. So interest rates effect me positively. Interest paid on loans falls under consumer spending which benefits the economy. Since these kids who went to Harvard even though they couldn't afford it are going to have to pay off their loan whether the interest rate is low or not, I say hike'm. Maybe it will help my portfolio, now that would affect me.