Debt Crisis Deepens as Eric Cantor, GOP Propose New Cuts - The Daily Beast In his quest to save the rich from making sacrifices whatsoever, Cantor is now scraping the bottom of the barrel. The problem with Cantor's idea to have Students pay the interest right away instead of deferring to graduation is the fact that students won't be able to pay for it. A.) There's no jobs for said students currently. B.) If students had the money to pay off the interest on these loans, they wouldn't be borrowing money from the government in the first place. C.) It's not as if the students are getting free money. They eventually have to pay back said interest and loan payments. And guess what? Unlike the majority other forms of debt, they can't discharge it by declaring for bankruptcy. I wonder if Cantor realizes what this will do to the economy, I doubt he even cares. D.) This is only going to save $4 billion a year. They already cut the grants that Students receive. Meanwhile, Cantor won't even touch the defense budget among other things including closing tax loopholes. I don't see how anyone can take Cantor seriously, he has shown that he doesn't actually care about cutting our deficit. Edit: Also, for all the "deficit hawks": E.) It's a gimmicky accounting trick.