Don't double the interest rate on my student loan
June 12th, 2013
08:48 AM ET
10 months ago

Don't double the interest rate on my student loan

Washington (CNNMoney) – Brandon Anderson's student loan will get costlier by $1,000, come July 1 - that's when interest rates on the loans are slated to double.

Anderson is among 7 million undergraduates with a personal stake in the debate in Washington over whether to hold down, or let the 3.4% interest rate to double for undergraduates borrowing subsidized federal student loans.

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Filed under: Education
soundoff (19 Responses)
  1. Dutch/Bad Newz, VA -aka- Take Back The House -aka- No Redemption Votes

    Sorry Brandon, but this Do-Nothing Congress will rather have you suffer. Even republicans internal review of college kids says that "republicans will congratulate you when you make it, but won't give you the tools to help you make it." No need to fret though. We'll kick those bums out next November. Until then, I guess you're on your own. Mr. Boehner, before you call others traitors, look no further than your House majority. You scumbags are intentionally trying to sabotage the economy and that is TREASONOUS!!! You can help out the FAA, but won't lend a hand to students. Ever heard of the song "The big Payback?" It's coming in November 2014.

    June 12, 2013 08:02 am at 8:02 am |
  2. thomase

    This is hilarious. Developing our future yearly costs more and more and we are penalizing them harshly for daring to become educated. Trapping students into massive amounts of debt because they dare to become a scientist, doctor, etc is ridiculous.

    June 12, 2013 08:09 am at 8:09 am |
  3. Rick McDaniel

    This country cannot continue to try to loan the money for every single person who wants to attend college. It simply isn't possible. The rise in interest may not be popular, but neither are the hand outs this government gives to people who should be earning their own way in the world.

    June 12, 2013 09:02 am at 9:02 am |
  4. Gurgyl

    Greedy universities need to stop this nonsense. It should be FREE-EDUCATION.

    June 12, 2013 09:04 am at 9:04 am |
  5. jkane sfl the gop national disgrace party will be swept out like the trash they are in2014 ?

    The gop represents the banks, not you, don't vote for them in 2014 and 2016 , time to bury the gop that tells you one thing and does something else ,remember the romney and lyin Ryan in 2012????? Nothings changed in the gop ,the party of stupid still thinks the won the elections , gop morons !!!!!

    June 12, 2013 09:18 am at 9:18 am |
  6. Rudy NYC

    Just think, Republicans blame Pres. Obama's support among college age people on "free stuff". Republicans seem to live in a different world from the rest of us. They seem think that the world is whatever the will it to be. If that were ever the case, it will never be so ever again.

    June 12, 2013 09:25 am at 9:25 am |
  7. jkane sfl the gop national disgrace party will be swept out like the trash they are in2014 ?

    Kick the gop garbage out in 2014 midterms if you want to get anything done . I'm sick of gop bs and fake scandles and trash can trolling by the gop party of stupid and assa , the czar of wasting taxpayers money while crying about the defict they caused . The gop braindead liers keep blaming Obama for 17 trillion dallar defict that they caused with their wars . The defict is going down under Obama and the dems, the first time its happends in years

    June 12, 2013 09:37 am at 9:37 am |
  8. Sniffit

    He's EXACTLY who the GOP/Teatrolls want hampered by massive student loan debt. What better way to continue widening the gap between the middle class and the plutocrat class? What better way to hold down a middle class whose demographic make-up is increasingly "problematic" as far as the GOP/Teatrolls are concerned? What better way to service and assuage their misplaced resentment towards "elitists" who attend top tier colleges and universities in the effort to better themselves? What better way to further the ideology that posits that wealth is an indication of virtue and worthiness and that the lack thereof an indicator of their absence? College students must pay, their parents must pay, their future families must pay...all must pay the price of struggling to break glass ceilings so that favorable, preferential tax loopholes/deductions for the wealthy and corporations and obscene subsidies granted to massive industry giants who report record profits during a global economic crisis can be protected.

    June 12, 2013 09:50 am at 9:50 am |
  9. Data Driven

    In the piece, this guy says, "We can't use college as a sorting tool for the wealthy."

    But that's precisely the conservative vision, which basically is: opportunities are for those with opportunities. Back to Maggie's Farm, you obscure and lousy swains!

    June 12, 2013 10:17 am at 10:17 am |
  10. Ray E. (Georgia)

    Humm, What?
    Me pay the going rate? How dare you! I am piivelaged. Serve me! Uh, no, you will have to pay the regular rate. Consider it a part of your Education. We tried giving the people a break on their Morgages. It fell thru. Free Education you say? Free Groceries too i suppose. Free Electricity and Gasoline too. Sorry it's back to the salt mines if you want to eat.

    June 12, 2013 10:26 am at 10:26 am |
  11. Sniffit

    "The rise in interest may not be popular, but neither are the hand outs this government gives to people who should be earning their own way in the world."

    Apply that to the extremely wealthy and corporations and THEN we can talk.

    June 12, 2013 10:28 am at 10:28 am |
  12. sonny chapman

    Hey Rick McDaniel, did you ever hear of the G.I. Bill following WW II ? The greatest investment ever made by the Fed. Govt. The amount of money that was loaned out was repaid a hundred times over in tax revenues. It is what created Middle Class America. OR, just borrow the money($100,000) for college from your parents

    June 12, 2013 10:33 am at 10:33 am |
  13. sonny chapman

    P.S.- we've had only two Presidents since 1974 who attended college on Student Loans. Bill Clinton & Barrack Obama, Dems.

    June 12, 2013 10:37 am at 10:37 am |
  14. NEVER to VOTE REPUBLICAN again

    Way to go teapubs. RIP!

    June 12, 2013 10:42 am at 10:42 am |
  15. Dutch/Bad Newz, VA -aka- Take Back The House -aka- No Redemption Votes

    “Economic growth and opportunity policies cannot just be about tax cuts and spending cuts.” – College Republican National Committee
    -------------------------------------------
    Even republican youth recognize how out of touch the GOP is. Makes me wonder why they're republicans to begin with.

    June 12, 2013 10:43 am at 10:43 am |
  16. Anonymous

    It is really funny to read conservatives comments who expect our youth to suck it up and pay the outrageous fees attached to college by working 3 menial jobs to afford the interest. Especially considering these same conservates:

    1. Never went to college themselves.
    2. Are using their own investments as "freebies" by discouraging job growth, government growth, and income equality.
    3. Are themselves getting welfare "freebies".
    4. Spend more than they earn.
    5. Are generally greedy to a point of not sharing with anyone.
    6. Are frightened that life passed them by.
    7. Are too ignorant to understand.
    8. Are just your typical nasty minded people intent on making others as miserable as they themselves are.

    June 12, 2013 10:44 am at 10:44 am |
  17. Minnie Mouse

    It's time to raise the poverty level. It's unfair to society to hand out free pell grants, offer reduced rates or forgiveness loans to certain groups of people or in certain degrees. If you didn't earn a scholarship, everyone should be paying for his or her college because it's a struggle for everyone attending and the parents assisting when they have to pay at 100%. The interest rates should not be raised at all and if anything the colleges need to be lowering tutition costs to where everyone can afford to get into college, plus being able to extend the loans out to longer terms if they want to in order to get an affordable loan payment.

    June 12, 2013 10:50 am at 10:50 am |
  18. Guess

    Expert economists, and the gop, and the dems agree, education is the key to solving llongterm problems, and that is exactly why the gop has attacked education on every level, this is just one. headstart, latchkey, tutoring, scholarships, childcare assistance during class, free lunches, per student funding, i cant think of a single aspect, or area of education the gop has not gone after, how can anyone think they want to help?

    June 12, 2013 10:52 am at 10:52 am |
  19. S.B. Stein E.B. NJ

    It is a shame that we can't help everyone figure out what job or career options are best for them and tell them what they have to do to get there. I would hope that we can better low cost college and university programs.

    If education is the equalizer, then there needs to be a way to lower the cost so that everyone can afford any kind training (bacholors, technical, medical or contruction/manufacturing) that gets them the education for that position.

    June 12, 2013 10:52 am at 10:52 am |