Daily Archives: May 8, 2012

The issue of student loans recently came up in Congress as they considered whether or not to delay (or possibly get rid of) a rate increase on student loans from 3.4% to 6.8%. Both sides acted with their trademark maturity.

A rate increase when so many students are already struggling to make their minimum payments seems cruel, and yet who knows what our Congressmen are going to do. As it stands, though, the student loan debt crisis is definitely weighing negatively on the economy, as recent grads are unable to enter the career-force (I think I just created a new term). Without a large income or job security (such as it is, these days), these young people will start making the large purchases that drive our economy later in their lives. It’s an albatross around a generation’s neck, and it is affecting the entire country.
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