Saturday, October 07, 2006

Democratic Leadership to Cut Student Loan Rates by Half

While GOP legislators busy themselves with bills that give tax breaks to corporate bigwigs and the uber-rich, Minority Leader Nancy Pelosi has vowed to cut the interest rate of students by half when Democrats take over the House.

Here's soon-to-be Speaker Pelosi's agenda for the nation.

Put new rules in place to "break the link between lobbyists and legislation."

Enact all the recommendations made by the commission that investigated the terrorist attacks of Sept. 11, 2001.

Raise the minimum wage to $7.25 an hour, maybe in one step. Cut the interest rate on student loans in half. Allow the government to negotiate directly with the pharmaceutical companies for lower drug prices for Medicare patients.

But that ain't all. Pelosi also wants to "[b]roaden the types of stem cell research allowed with federal funds."
"We believe in the marketplace," Pelosi said of Democrats..."They have only rewarded wealth, not work."
Now ain't that the noble truth!

And to all those whiny progressives who were carping about Pelosi's leadership only a few months ago, just grab a piece of humble pie and eat it with an extra slice of fried crow.


I recently published an article on the dangers and benefits of student loans and other forms of college financial aid – here is a quote from it, in case you are interested:
Student loans repayment can be a real nightmare without adopting some strategies that would help the new graduates to organize their social and financial life. Here are some strategies they can use to do this:
- An additional part-time job;
- Freelancing is another option (meaning that they can do particular pieces of work for different organisations, without working all the time for a single organisation);
- They should try to keep their living expenses as low as possible (live in a smaller apartment, live with a roommate to share some of the expenses, find an apartment that is closer to the job, to eliminate the extra-expenses for transport etc.);
- To apply for forbearance (this is an immediate solution for hard times when the new graduate is in impossibility to re-pay the amount of money and the need for student loan consolidation becomes apparent; it is a temporary period, when the graduate can postpone or delay his or her re-payments until a later time on a federal or direct loan after the beginning of the re-payment, and when the student doesn’t qualify for deferral). The forbearance must be applied through the lenders of the loans.
- To consolidate the payments.
If you feel this help, please drop by my website for additional information, such as federal student loans information or additional resources on private student loans .


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