The US government is facing unprecedented debt. The levels are unsustainable and all the politicians in this country can do is to kick the can down the road. Each party claims to have plans that would cut the deficit by trillions but independent reviewers say that all they do is cut 20 to 40 billion dollars over 10 years. Ideologically these guys cannot agree upon defense, Medicare, Social security, union benefits, taxation, abortion, BUT – they certainly agree upon cutting student aid.
See this extract from a NY Times article.
“One of the few areas in which Mr. Boehner and Senator Harry Reid, Nevada Democrat and majority leader, agree is student aid. They both propose eliminating subsidized federal loans for students in graduate and professional schools — about 1.5 million borrowers who do now pay interest on their loans while they are in school. Graduate students could still take out unsubsidized loans. But they would be obliged to pay interest accumulated while they were in graduate school, so they would owe more to the government.
The Congressional Budget Office estimated that this change would save $18 billion over 10 years.”
Any way I don’t care as I’m not eligible for student loans. No doubt this country is going bankrupt – one reason lack of education!
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