President Barack Obama on Friday pushed his plan to tie federal student loan interest rates to the market, and criticized a Republican plan passed by the House of Representatives that he said would cost borrowers more.
The mounting burden of student loan debt, now pegged at more than $1 trillion, with an average borrower owing $27,000, is seen as a drag on the economy and a barrier to people getting educations needed for better jobs.
This is a business the federal government shouldn’t be in at all. The Democrats want to stay in it so they can always seem like the heroic bearers of “free stuff” and portray Republicans as “OMG, SEND YOU BACK TO THE DARK AGES!” for any sensible counter-suggestions they might make.
Some of us got around this issue by, um, WORKING during college.