You know student loan stuff is getting whacky when…

by hedy on July 5, 2013

New ServerYou read the fine print and are relieved that the new law regarding Stafford Loans and are relieved because it doesn’t affect you as your grad school loans have been unsubsidized for the past year (thanks, 2011 debt ceiling).  Mind-blowing.  However, this got me minorly freaking out about my loans when I graduate:  namely whether I should consolidate my undergrad loans into my graduate loans.  Although the effective amount I would pay would go down, my interest rate is about half of my graduate loan rates.

It does, however, bother the stuffing out of me that federal loans have such higher interest rates than some private loans.  Also, I still think that the global “we” have yet to see the true effect of student loans on the economy, in terms of everything from buying cars to servers.  Of course, the counter-argument is that if playing by the “old rules” got milennials into a boat-load of debt, why should they try to continue playing by the rules?  I really wish that a comprehensive student loan reform would be passed (and that more big time donors would admit that this is an issue.  And people spenging money is a Good Thing for the economy.

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